--%>
Assignment Help - homework help

Diminishing Returns-Concave from origin

The inevitability of ultimately raising opportunity costs might be employed to explain why: (1) Scarcity is the worsening problem in industrial societies. (2) Production possibilities frontiers are concave from origin. (3) Services cost more than goods absorbing alike resources. (4) Additional units of goods cause reduction in the value of output forgone. (5) Production possibilities frontiers ‘bow in’ towards origin.

Choose the accurate one.

   Related Questions in Econometrics

  • Q : Efficiency and Allocative Mechanisms

    The XYZ Aviation Administration now needs airlines which overbook flights to secure the volunteers willing to give reserved seating by recompensing them to take a later flight with extra tickets or another incentive. Formerly, the airlines bumped the ticketed passenge

    		•
  • Q : Feudal cultures-Allocative Mechanisms

    The Feudal cultures in which the parents arrange marriages of their young children tend to rely relatively greatly on: (1) Tradition. (2) Arbitrary selection. (3) Central planning. (4) Queuing. (5) The market system. Can someone please help me in finding out the accurate

    		•
  • Q : Economics “Due to lower grain prices,

    “Due to lower grain prices, consumers can expect retail prices of choice beef to begin dropping slightly this spring with pork becoming cheaper after midsummer,” the Agriculture Department predicted. “This reflects increasing supply,” the department said. Does the statement use the term “supply” cor

    		•
  • Q : Allocative Mechanisms-Markets Can

    Can someone help me in finding out the accurate answer from the given options. Production which is most compatible with the consumer tastes and preferences is more probable whenever allocation is decided by: (1) Queuing. (2) Majority voting. (3) Indiv

    		•
  • Q : Tradition-Allocative Mechanisms The

    The Feudalism, in which who governs is recognized by the royal birth or inherited titles, relies heavily on the allocative method of: (i) Tradition. (ii) Queuing. (iii) Brute force. (iv) The market-place. (v) Random choice. Choose

    		•
  • Q : Honesty and integrity in market

    The economic system which in theory depends relatively the least for its efficiency and in general success on honesty and integrity and humanitarianism of members of the economically and socially and most of the elite groups in the system are about ce

    		•
  • Q : Income Distribution-Distributing goods

    Distributing all the goods strictly according to people's requirements is likely to outcome in: (i) the requirements of decision makers receiving much high priority. (ii) Low levels of output since people contain few incentives to generate. (iii) A fe

    		•
  • Q : Involvement of Queuing I have a problem

    I have a problem in economics on Involvement of Queuing. Please help me in the following question. Queuing entails: (i) Fundamental skills for play pool. (ii) Low opportunity costs for the busy people. (iii) Assembly-line forms of the production. (iv) First-come, firs

    		•
  • Q : Maximum output in absence of

    In the nonattendance of diminishing returns, the maximum output of food from the flower pot (or land) and limitless amounts of other resources would be sufficient to feed: (1) The grasshopper. (2) One skinny family. (3) One mouse. (4) All of the world.

    Q : Opportunity Costs-Linear possibility

    I have a problem in economics on Opportunity Costs. Please help me in the following question. The linear (or straight line) production possibilities frontier would mean that the opportunity costs are: (i) increasing. (ii) Decreasing. (iii) Constant. (

    		•