Constructing a model of Production Possibility Frontier

Can someone please help me in determining the right answer from the following question. The three fundamental assumptions required to construct a model of the production possibilities frontier do not comprise: (1) Reducing marginal returns to production. (2) Fixed amounts of the resources. (3) Steady technology. (4) Economy-wide productive effectiveness.

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

View Complete Question

Related Questions in Microeconomics

Q : The perfect price discrimination

Suppose a monopolist has zero marginal cost and faces the following demand curve D(p) = 10 - 2p (a) Graph the demand curve, the marginal revenue curve, and the rm's margin

Q : Transaction Costs and the Survival of

Can someone help me in finding out the right answer from the given options. The firms can be successful and survive in long run merely when they consistently: (1) Produce positive economic gains. (2) Comply completely with federal regulations. (3) Ignore managerial sl

Q : Exploitation and the Wage Rate Assume a

Assume a neither firm possessing both the monopsony power as an employer and the market power in its output market, however which can neither wage discriminate nor price discriminate. In the equilibrium in its labor market for workers, of the given va

Q : Opinion about kinked demand curve model

George Stigler concluded which the kinked demand curve model is incorrect to the extent that this depends on: (w) marginal cost pricing. (x) pure competition. (y) interdependent decision making. (z) sticky prices.

Q : Comparative statics and consumer demand

Explain the methodological procedure called comparative statics. What does this procedure imply regarding the nature of the consumer demand curve?

Q : Efficiency and Income Distribution Even

Even though property rights are fully given and cost-less enforced and transaction costs (i.e., information costs, contracting costs, and mobility costs) are nonexistent, in that case equilibria in all markets in a whole economy may a

Q : Determine infinity price elasticity

When the demand for cheesy fried grits of Pixie is relatively price elastic, then its price elasticity is: (i) zero. (ii) greater than zero but less than one. (iii) one (unitary.) (iv) greater than one but less than infinity. (v) infi

Q : Price mechanism Write down the benefits

Write down the benefits of leaving the allocation of countries resources to price mechanism?

Q : Natural barriers to entry A monopoly

A monopoly may emerge naturally while: (w) increasing costs happen quickly relative to market demand. (x) at low levels of output, disutilities of scale are encountered. (y) economies of scale are substantial relative to market demand. (z) variable co

Q : Advantages to sole proprietorships and

The benefits to sole partnerships and proprietorships associative to the corporations are that both contribute to: (1) Lack of permanence. (2) Limitless financial resources. (3) Limitless liability. (4) Simplicity of organization.

Discover Q & A

Leading Solution Library

Avail More Than 1421494 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1934955
Asked

3,689

Active Tutors

1421494

Questions
Answered

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

Submit Assignment