Properties of production possibilities curve
Describe properties of the production possibilities curve.
Expert
There are two main properties of production possibilities curve.
1. Downward sloping: This is since as more quantity of one good produced few quantity of the other good which must be sacrificed.
2. Concave to the origin: This is since the marginal rate of transformation rises as more of one good is generated.
Critics of the straightforward limit pricing strategy argue about that: (w) sunk costs are not important in deterring entry. (x) for limit pricing to work, there should be a credible threat to keep old output levels. (y) this is rational to expect the
Can someone please help me in finding out the accurate answer from the following question. Failing to lock your door whenever you go out since you have theft insurance is an illustration of the trouble of: (1) Indifference. (2) Apathy. (3) Moral hazard. (4) Market pow
Comparing supply curves S2 and S3, supply is: (w) more price elastic along S2 than along S3. (x) more price elastic along S3 than S2. (y) equally elastic along both when they have simil
Price discrimination is probably in markets: (w) for medical services. (x) for wheat sold by farmers. (y) for bread sold by grocers. (z) where all consumers have identical demand curves. Can anybody suggest me the
A monopoly firm must shut down in the short run when: (w) P < minimum [average total costs [ATC]]. (x) P > minimum [average total costs [ATC]]. (y) this cannot cover all variable costs. (z) P does not equal marginal costs [MC]. Q : Signaling definition Can someone please Can someone please help me in finding out the accurate answer from the following question. Job applicants employ polished resumes explaining education, skills and work experience, accompanied by the supportive letters of recommendation letters as tools in the procedur
Can someone please help me in finding out the accurate answer from the following question. Job applicants employ polished resumes explaining education, skills and work experience, accompanied by the supportive letters of recommendation letters as tools in the procedur
The demand curve facing an unregulated non-discriminating monopolist is NOT: (w) similar as the industry's demand curve. (x) downward sloping. (y) more elastic than the demand curve facing a competitive firm. (z) various from its marg
I have a problem in economics on Quantity demanded in Substitution process. Please help me in the following question. The sales growth resultant from price cuts for a good reflects rises in: (i) Quantity demanded. (ii) Demand. (iii) Quantity supplied.
Can someone help me in finding out the right answer from the given options. The value in use of your favorite Frisbee is described whenever you: (1) Play Frisbee with dog. (2) Sell it for $100 to your elder brother. (3) Auction it off at the Frisbee convention. (4) Tr
The increase in demand for tartar sauce would be a probable result of: (1) A reduction in the price of fish. (2) An raise in the price of tartar sauce. (3) A bumper crop of the tartar sauce. (4) A raise in the price of fish. (v) The reduction in price
18,76,764
1947325 Asked
3,689
Active Tutors
1412914
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!