--%>
Assignment Help - homework help

Production possibilities curve is a graphical representation

How a production possibilities curve is a graphical representation of choices?

E

Expert

Verified

1. Points on the curve represent maximum possible combinations of robots and pizza given resources and technology.

2. Points inside the curve represent underemployment or unemployment.

3. Points outside the curve are unattainable at present.

   Related Questions in Business Economics

  • Q : Theory of Purchasing Power Parity

    Question: The Theory of Purchasing Power Parity says that, in the long run, nominal exchange rates change to offset changes in relative i. _________________________ so that the purchasing power of two currencies st

    		•
  • Q : Construct a 2-D graph which comprises

    How to construct a 2-D graph which comprises drawing a horizontal and a vertical axis?

    		•
  • Q : Way to determine nature price of Adam

    “Natural price” by Adam Smith of a good was eventually determined through: (1) the amount of capital used within production in the short run. (2) long-run average costs of production, that Adam Smith believed to be the amo

    		•
  • Q : Introduction of the term Cost of

    Give a brief introduction of the term Cost of preference shares?

    		•
  • Q : How can we compute operating leverage

    How can we compute operating leverage?

    		•
  • Q : Entrepreneurs and business are at the

    Explain the statements: Entrepreneurs and business are at the helm of the economy.

    		•
  • Q : Elucidate how to maintain competition

    Elucidate how to maintain competition?

    		•
  • Q : The federal fiscal stimulus Question:

    Question: Was the stimulus package passed in 2009 as success?  In answering this question the focus should be the articles on the syllabus, but you should also include opinions of other commentators.   Your answer should also describe w

    		•
  • Q : Determine the lowest average wages

    Consider a huge group of identically smart and strong industrious workers. All else identical, Adam Smith would predict such that the lowest average wages would be earned through the workers who were in the work that: (1) had the leas

    		•
  • Q : Production Possibility Curve Production

    Production Possibility Curve: Similar to the individuals, a society as entire has restricted resources. It has to decide what to manufacture with restricted resource

    		•