Why production possibilities curve concave
What is the reason that production possibilities curve concave? Elucidate.
Expert
The Production possibility curve concave means that MRT raises as we move downward all along the curve. MRT rises since it is supposed that no resource is equally proficient in production of all goods. Since resources are transferred from one good to the other, less & less proficient resources have to be utilized. This increases cost and also MRT.
A surplus of papayas would involve when: (1) government set a price ceiling of P1. (2) growers expected prices to soar. (3) hurricanes vanished all Central American papaya plantations. (4) government imposed a price floor of P2. (5) seller's supp
Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.
A purely competitive market would NOT be illustrated by: (1) many potential buyers and sellers. (2) each buyer or seller being a price taker. (3) an absence of long-run barriers to entry or exit. (4) aggressive advertising to compare brands. (5) a sin
I have a problem in economics on Law of Demand in respect to relative price. Please help me in the following question. The law of demand defines that as: (1) Absolute prices rise, quantity demanded raises. (2) Relative prices raise, quantity demanded
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When you were unconcerned about the welfare of other people and your income rated you onto the top two percent of the population, then you would be happiest while the Lorenz curve for your country resembled as: (1) li
Programs that provide preferential treatment to members of groups which have previously suffered due to discrimination are termed as: (i) redistributive justice. (ii) affirmative action. (iii) compensating variations. (iv) equity considerations. (v) transfer programs.
When line 0C0' shows the U.S. income distribution, in that case the distribution of wealth would most likely be possible: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'. Q : Perfectly price elasticity of supply The supply of textile employees in China is possibly most like the perfectly price elastic supply curve within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : Determine market demand in curve The The market demand curve as in demonstrated figure for Christmas trees is: (i) curve A. (ii) curve E. (iii) curve F. (iv) curve G. (v) curve J. Discover Q & A Leading Solution Library Avail More Than 1437948 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1938847 Asked 3,689 Active Tutors 1437948 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
The supply of textile employees in China is possibly most like the perfectly price elastic supply curve within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : Determine market demand in curve The The market demand curve as in demonstrated figure for Christmas trees is: (i) curve A. (ii) curve E. (iii) curve F. (iv) curve G. (v) curve J. Discover Q & A Leading Solution Library Avail More Than 1437948 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1938847 Asked 3,689 Active Tutors 1437948 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
The market demand curve as in demonstrated figure for Christmas trees is: (i) curve A. (ii) curve E. (iii) curve F. (iv) curve G. (v) curve J. Discover Q & A Leading Solution Library Avail More Than 1437948 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1938847 Asked 3,689 Active Tutors 1437948 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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