Why production possibility curve is concave
Why production possibility curve is concave? Answer: This is due to increasing the marginal opportunity cost.
Why production possibility curve is concave?
Answer: This is due to increasing the marginal opportunity cost.
The Production possibilities frontiers describe the concepts of: (1) A trade-off between inflation and unemployment. (2) Positive economics versus the normative economics. (3) Scarcity, opportunity costs, and reducing returns. (4) Absolute advantages
This purely-competitive producer’s generic bricks presently sell for: (i) $60 per thousand. (ii) $70 per thousand. (iii) $80 per thousand. (iv) $90 per thousand. (v) $100 per thousand. Q : Total variable cost when maximizes Total variable cost when this firm maximizes economic profits would be: (i) $12,000 per period. (ii) $24,000 per period. (iii) $32,000 per period. (iv) $48,000 per period. (v) $60,000 per period.
Total variable cost when this firm maximizes economic profits would be: (i) $12,000 per period. (ii) $24,000 per period. (iii) $32,000 per period. (iv) $48,000 per period. (v) $60,000 per period.
When do we state that there is an excess demand for a commodity in the market?
Negative income tax proposals call for: (w) paying $1 in taxes on every dollar of transfer payments. (x) reducing welfare benefits by levying higher income taxes. (y) instituting consistent work incentives for welfare recipients. (z) establishing a ne
Help me to solve this problem. Refer to the given balance sheets. If the reserve ratio is 25%, the maximum money-creating potential of the commercial banking system is: A) $36. B) $17. C) $48. D) $24. Q : Define marginal revenue Marginal Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.
Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.
A Lorenz Curve cannot be used to demonstrate scientifically how the: (w) income is distributed among members of society. (x) wealth is distributed in between members of society. (y) taxes alter the distribution of income. (z) income must be distribute
A monopoly might emerge naturally while economies of scale: (w) are small relative to market demand. (x) do not exist. (y) are large relative to market demand for output. (z) and average costs are rising over the market output range. Q : Define Marginal rate of transformation Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.
Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.
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