--%>
Assignment Help - homework help

Explain Production Possibility curve

Elucidate Production Possibility curve with the help of a diagram?

Answer: The Production Possibility Curve refers to a curve that shows various production possibilities which can be produced with specified resources and technology.

920_PPC.jpg

When the economy devotes all its resources to the production of commodity B, it can generate 15 units however then the production of commodity A will be zero. There can be much production possibilities of commodity A & B. When we want to generate more commodities B, we have to decrease the output of commodity A and vice-versa.

   Related Questions in Microeconomics

  • Q : Determine produce economic profit When

    When point e corresponds to $9,000 per RoboMaid, Robomatic can produce economic profit all month of at most around: (1) $25 million. (2) $40 million. (3) $55 million. (4) $70 million. (5) $85 million.

    Q : Monopsonistic Exploitation-Wage

    Whenever a firm's wage structure imitates the keenness of individual employees to work, terms which are most applicable comprise: (1) Monopsonistic exploitation and the wage discrimination. (2) Monopolistic exploitation and the separation of control and ownership. (3)

    		•
  • Q : Determine the relationship among APC

    Determine the relationship among APC and APS? Answer: APC + APS = 1.

    		•
  • Q : Problem on price elasticity and total

    A) Use the table below to draw graphs that show the relationship between price elasticity of demand and total revenue. <

    		•
  • Q : Equal Income Distribution The income

    The income distribution tends to become more equal most quickly as countries become more: (1) socialistic. (2) capitalistic. (3) economically developed. (4) centrally planned. (5) agricultural. Please choose the ri

    		•
  • Q : Problem on Monopsonistic exploitation I

    I have a problem in economics on Monopsonistic exploitation. Please help me in the following question. The Monopsonistic exploitation of labor signifies that the: (i) Influenced workers receive much low wages. (ii) Firm reaps big economic gains by exploiting the worke

    		•
  • Q : Total cost for monopolistic competitor

    Total cost for that monopolistic competitor in shown below figure equals area: (w) 0cbQ. (x) 0deQ + dcbe. (y) 0paQ   cpab. (z) All of the above.

    Q : Total variable cost Total variable cost

    Total variable cost:1. variable cost changes with the change in quantity. It increase or decrease as the output change.2. it is zero when output is zero3. Its curve is parallel to the curve of total cost.4. Example :- cost of r

    		•
  • Q : Types of output for producing goods

    Kinds of output subsequently used to generate other goods are termed as: (w) land. (x) labor. (y) capital. (z) primary resources. Hey friends please give your opinion for the problem of Eco

    		•
  • Q : Probability of Law of Diminishing

    Can someone help me in finding out the right answer from the given options. Karina gets 27 utils from her first ice-cream cone in an hour, and 23 extra utils from the second that hour. Determine the number of utils is she likely to obtain from the third cone? (i) 15 u

    		•