--%>

Problem on Increasing Costs

Can someone help me in finding out the right answer from the given options. Since the output of food raises from zero to 40 in this completely employed economy, the opportunity cost of additional food: (1) Increases. (2) Is zero. (3) Drops. (4) Is constant.

   Related Questions in Econometrics

  • Q : Shifting the curve up and out I have a

    I have a problem in economics on shifting the curve up and out. Please help me in the following question. Economic growth is described with the production possibility curve by: (1) Moving all along the curve. (2) Shifting the curve down and in. (3) Shifting the curve

  • Q : Capitalistic economies of wars Even if

    Even if most resources are privately owned, most of the major economic decisions are made by the government if: (i) Decentralized planners respect the Soviet economy. (ii) Laissez faire policies are national goal. (iii) Capitalistic economies assemble

  • Q : Reduced form equations Which of the

    Which of the following econometric models are linear in parameters or variables (state if they are linear in both)? Explain briefly what kind of data transformation would be needed to estimate the parameters of these models. i) Yi = ?1 + ? 2 Xi 2+ ?3 Xi 3 + ui ii) Yi= ß1 + ß2 ln X + ui iii) Y

  • Q : Mixture of market and command elements

    Can someone help me in finding out the right answer from the given options. The modern U.S. economy: (i) Is an illustration of a pure market system. (ii) Is a mix of market and command element. (iii) Has evolved to a fundamental command system s (iv) Experienced littl

  • Q : Efficiency of production possibilities

    I have a problem in economics on Efficiency of production possibilities frontier. Please help me in the following question. The production possibilities frontier supposes: (i) Proficient utilization of fixed resources and technology. (ii) A totally ho

  • Q : Allocative Mechanisms-Random Selection

    I have a problem in economics on Random Selection. Please help me in the following question. Rights to drill for the oil on government property are frequently assigned by lottery. If you are blessed you win drilling rights by just submitting your name

  • Q : Entailing the allocation of queuing The

    The allocation by queuing entails waste since some people: (i) Overstress their work credentials to acquire good jobs. (ii) May gain whereas others lose whenever lotteries are employed. (iii) Will spend long, fruitless periods waiting in line. (iv) Co

  • Q : Outward shift of production

    The raise in the quantity of labor for society shown would lead to: (1) An inward shift of the production possibilities frontier. (2) The movement all along the production possibilities frontier. (3) An increased opportunity cost for all the goods. (4

  • Q : Problem on Allocative Mechanisms The

    The allocation method not paired with a suitable illustration would be: (1) Merit - awarding improved grades to the students who perform excellent on an exam. (2) Arbitrary selection - Congress activates a draft to safe soldiers to serve up in Iraq. (

  • Q : Problem on Converging Systems I have a

    I have a problem in economics on Converging Systems. Please help me in the following question. The United States free market system: (1) Is a purely laissez-faire system. (2) Consists of complete and well stated property rights. (3) Has been largely u