What does a straight-line production possibilities curve illustrate? The opportunity cost of production does NOT vary...
What does a straight-line production possibilities curve illustrate?
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The opportunity cost of production does NOT vary along the curve. |
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The output combinations along the curve provide equal levels of satisfaction to consumers. |
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The opportunity cost of production of the good on the Y-axis increases as you move down along the curve. |
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The market price of the two goods is the same everywhere along the curve. |
Homework Answers
Answer: The opportunity cost of production does NOT vary along the curve.
When the production possibilities curve(PPC) is a straight-line, it means, the opportunity cost of production remains same along the PPC.
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What does a straight-line production possibilities curve
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according to the graph of the production possibilities
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I need help on number 12.
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What is a production possibilities frontier? Why is it typically drawn as a curve rather than a straight line? How can a frontier explain the concept of productive efficiency? Provide examples and explain your answer.
1) A production possibilities curve- seen here assumes which of these? Enlarge Image Production Possibilities Curve Output of A) Opportunity costs are constant B) Scarcity requires economic choices. The forces of supply are greater than the forces of C) demand. Consumer and military goods can both be made at D) maximum efficiency Out IN 2) The opportunity cost of a move from point A to point Bis A) the increased production of D. B) the increased production of C. the...
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according to the graph of the production possibilities
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I need help on number 12.
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