--%>
Assignment Help - homework help

Technological improvement of production possibilities curve

Assume improvement takes place in the technology of producing forklifts however not in the technology of producing automobiles. Draw the new production possibilities curve. Now suppose that a technological advance takes place in generating automobiles however not in producing forklifts. Draw the new production possibilities curve. Now draw production possibilities curve which reflects technological improvement in the production of both of the products.

E

Expert

Verified

See the graph given below. PPC1 illustrates improved forklift technology. PPC2 illustrates improved auto technology.  PPC3 illustrates improved technology in producing both products.

1006_Technological improvement in the production possibilities curve.png

   Related Questions in Finance Basics

  • Q : State Section 30.00 Section 30.00 : It

    Section 30.00: It is a Control Section of Budget Act which amends Government Code Section 13340 to tha sunset continuous appropriations.

    		•
  • Q : Describe price–quantity effects Normal

    Normal 0 false false

    		•
  • Q : Multiplier for private closed economy

    Normal 0 false false

  • Q : Explain Appropriation Appropriation :

    Appropriation: The authorization for a particular agency to make expenditures or make obligations from a particular fund for a particular purpose. It is generally limited in amount and period of time during which the expenses is to be

    		•
  • Q : Difference in annuities due or ordinary

    Normal 0 false false

    		•
  • Q : Why is replacement value of assets

    Why is the replacement value of assets method not used generally to value complete businesses?The replacement value of assets method is not frequently applied to complete business valuations since it is frequently very hard to locate similar ass

    		•
  • Q : Describe accumulated depreciation

    Describe accumulated depreciation?Depreciation is the allocation of an asset's primary cost over time. Accumulated depreciation is the sum of all the depreciation cost that has been identified to date.

    		•
  • Q : Make mutual and stockholder-owned

    Compare and make mutual and stockholder-owned savings and associations of loan. Some savings and loan associations are owned through stockholders, just as commercial banks and other corporations are owned through their stockholders.  Other

    		•
  • Q : Describe Form 9 Form 9 : It is the

    Form 9: It is the request by department for space planning services (example, new or extra space lease extensions, or renewals in non-institutional) and also evaluated by the Department of Finance.

    		•
  • Q : Define One-Time Cost One-Time Cost : A

    One-Time Cost: A proposed or real expenditure that is non-recurring (generally only in one annual budget) and not permanently comprised in baseline expenditures. The departments make baseline adjustments to eradicate prior year one-time costs and suit

    		•