Concept of Production Possibilities Frontiers

The Production possibilities frontiers describe the concepts of: (1) A trade-off between inflation and unemployment. (2) Positive economics versus the normative economics. (3) Scarcity, opportunity costs, and reducing returns. (4) Absolute advantages and the divisions of labor.
Select the right option.

Hello guys I want your advice. Please recommend some views for above Economics problems.

View Complete Question

Related Questions in Microeconomics

Q : Estimate price by price elasticity of

At the point on the demand curve for RoboMaids where the price elasticity of demand is unitary, the price would be roughly: (i) $10,000, resulting in sales of roughly 16,000 robots monthly. (ii) $13,000, resulting in sales of approxim

Q : Price elasticity of demand DVDs of games

Moving from point c to point d beside demand curve D, the price elasticity of demand DVDs of video games equals: (1) 0.8. (2) one. (3) 1.10. (4) 1.25. (5) 2.50

Q : Define normal goods Normal goods:

Normal goods: Normal goods are such goods whose demand increases with the increase in income of consumer.

Q : Kinked demand curve model of

The kinked demand curve model of oligopolistic pricing behavior reflects the concept which: (1) price hikes fail to accommodate small hikes in costs. (2) other firms ignore price hikes by single firms. (3) other firms match any price cuts by any singl

Q : Marginal social cost and marginal

If marginal social cost (MSC) equivalents marginal social benefit (MSB) as: (i) no injurious pollutants are being pumped within the environment. (ii) consumers enjoy more surplus than do producers. (iii) producers surplus is minimized

Q : Explanation of Substitution Effect The

The substitution effect helps most in describing why: (1) Demand curves slope down. (2) Goods are either complements or substitutes. (3) Air travel costs less than by walking the cross country. (4) Uncertainty regarding quality justifies govt. control

Q : Problem on income and substitution

Jim a vegetarian. All he eats is lettuce and cheese. His original budget constraint and utility maximizing bundle are illustrated in the graph shown below: 1531</span></p>
</div>

</li>

</td>
</tr><tr>
<td>

<li>
<div class=

Q : Price elasticity of demand I have a

I have a problem related to price elasticity of demand. The question is illustrated as "After the price of movie tickets rose, I spent less money on movie tickets." What can you infer regarding my price elasticity of demand?

Q : Purchasing power of Income Effects

Whenever the price increases for a good that you enjoy extremely and purchase regularly: (i) The purchasing power of your income is reduced. (2) You adjust more rapidly than when the good was insignificant to you. (3) Your substitution effect is over-powered by an inc

Q : Demand of purely competitive firm for

This purely competitive firm’s demand as in given figure for labor corresponds to: (1) line segment ab. (2) line segment bd. (3) line segment be (4) line segment df. (5) line segment dg.

Discover Q & A

Leading Solution Library

Avail More Than 1454133 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1926334
Asked

3,689

Active Tutors

1454133

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment