Illustrate the Optimal or best product-mix
Illustrate the Optimal or best product-mix and also Law of increasing opportunity costs?
Expert
Optimal or best product-mix:
1. It will be some point on the curve.
2. The exact point depends on society; this is a normative decision.
Law of increasing opportunity costs:
1. The amount of other products that must be foregone to obtain more of any given product is called the opportunity cost.
2. Opportunity costs are measured in real terms rather than money (market prices are not part of the production possibilities model.)
3. The more of a product produced the greater is its (marginal) opportunity cost.
4. For increasing opportunity cost the slope of the production possibilities curve becomes demonstrating as well as steeper. This constructs the curve as it emerges concave from the origin and bowed out.
Describe Quasi-public goods?
Elucidate the changing rates of Appreciation and Depreciation?
Briefly explain the term Price Earnings Ratio (or P/E Ratio)?
Suppose that, based on a nation’s production possibilities curve, for 10,000 pizzas domestically an economy must sacrifice to get the one additional industrial robot it desires, but can get that robot from another country in exchange for 9,000 pizzas. To the fol
Speculation is unlike arbitrage since: (1) speculative buyers always break even. (2) speculation causes increased costs. (3) speculators bear no risk. (4) positive returns for speculators are not sure. (5) competitive speculation equa
The price of KnickKnacks is $1 and the price of WigWags has increased with $2 to $3. Therefore: (w) absolute price of KnickKnacks has decreased and the relative price of WigWags has increased. (x) relative and absolute prices of KnickKnacks have
Define the Legal forms of businesses?
In perfectly competitive market, the market demand and market supply curves are provided by Qd = 1000 −10Pd and Qd = 30Ps. Assume that the government gives a subsidy of $20 per unit to each and every seller in the mark
Why private goods are produced through the market?
Explain how Entrepreneurs are risk-takers?
18,76,764
1924418 Asked
3,689
Active Tutors
1451445
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!