A production possibilities curve that is a straight line represents the case of a. decreasing costs....
A production possibilities curve that is a straight line represents the case of
a. decreasing costs.
b. constant opportunity costs but decreasing real costs.
c. increasing costs. constant costs.
d. constant opportunity costs but increasing real costs.
Homework Answers
A PPC that is linear and straight line shows constant opportunity cost but increasing real cost.
Answer-D
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A production possibilities curve that is a straight line
represents the case of
a. decreasing costs....
In the accompanying graph construct a production possibilities curve for a nation with the following maximum...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum output combinations. The Production Possibilities Curve Food ideo Games 0 10 10 16 19 1.) Using the point drawing tool, plot the four output combinations from the table above. Properly label each point. 2.) Using the 4-point curved Nne drewing tool, draw a curve connecting these points. Label this curve Carefuly towow the instructions above, and only draw the required abjects The shape of...
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? The opportunity cost of production does NOT vary along the curve. The output combinations along the curve provide equal levels of satisfaction to consumers. The opportunity cost of production of the good on the Y-axis increases as you move down along the curve. The market price of the two goods is the same everywhere along the curve.
1) A production possibilities curve- seen here assumes which of these? Enlarge Image Production Possibilities Curve...
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...
A the production possibilities frontier (PPF) is bowed outward as a result of 1)constant opportunity costs....
A the production possibilities frontier (PPF) is bowed outward as a result of 1)constant opportunity costs. 2)increasing opportunity costs. 3)decreasing opportunity costs. 4)scarcity. 5)choice.
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of...
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of bushels С 4 --- D 2 - 1 0 2 5 1 3 4 Coffee (millions of bushels) The production possibilities in Exhibit 2-2 indicates that the opportunity cost of cornis Indeterminate Zero decreasing Increasing constant
Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?...
Why is a production possibilities frontier typically drawn as a curve, rather than a straight line? Explain why societies cannot make a choice above their production possibilities frontier and should not make a choice below it.
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A)...
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A) a change in the amounts of one good desired. B) an increase in the labor force C) a natural disaster like a hurricane or bad earthquake D) a reduction in unemployment. 48) If a nation's production possibilities frontier moves outward, this represents: A) economic growth. B) an impossible situation. C) rising prices of the two goods on the production possibilities frontier model. D) a...
urgent please Production Possibilities Analysis The table below is a set of hypothetical production possibilities for...
urgent please
Production Possibilities Analysis The table below is a set of hypothetical production possibilities for a nation. . Automobiles Beef Combination (thousands) (thousands of tons) 10 4 0 9-4 10 a. Plot these production possibilities data. What is. the opportunity cost of the first 2,000 automobiles produced? Between which points is the oppor- tunity cost per thousand automobiles highest? Between which points is the opportunity cost per thousand tons of beef highest? b. Label a point P inside the...
Which one of the graphs below represents a production function with both increasing and decreasing returns...
Which one of the graphs below represents a production function with
both increasing and decreasing returns to scale?
70. Which one of the graphs below could represent a total product curve with constant returns to scale? a) Graphia b) Graph b Graph c d) Graph d e) Graph e 1. Which one of the graphs below represents a production function with both increasing and decreasing returns to scale? a) Graph a b) Graph b Graph c d) Graph d e)...
QUESTION 10 A production possibilities frontier with increasing opportunity cost is considered and one with constant...
QUESTION 10 A production possibilities frontier with increasing opportunity cost is considered and one with constant opportunity cost is considered A concave, convex OB.convex, concave. C.concave, a straight line. Dvertical; horizontal QUESTION 11 The idea that all income ultimately goes to households, which then use it to buy goods and services from firms, is a central idea of the A production possibilities frontier B. supply and demand model C. circular flow diagram D.classical model
In the accompanying graph construct a production possibilities curve for a nation with the following maximum output combinations. The Production Possibilities Curve Food ideo Games 0 10 10 16 19 1.) Using the point drawing tool, plot the four output combinations from the table above. Properly label each point. 2.) Using the 4-point curved Nne drewing tool, draw a curve connecting these points. Label this curve Carefuly towow the instructions above, and only draw the required abjects The shape of...
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...
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of bushels С 4 --- D 2 - 1 0 2 5 1 3 4 Coffee (millions of bushels) The production possibilities in Exhibit 2-2 indicates that the opportunity cost of cornis Indeterminate Zero decreasing Increasing constant
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A) a change in the amounts of one good desired. B) an increase in the labor force C) a natural disaster like a hurricane or bad earthquake D) a reduction in unemployment. 48) If a nation's production possibilities frontier moves outward, this represents: A) economic growth. B) an impossible situation. C) rising prices of the two goods on the production possibilities frontier model. D) a...
urgent please
Production Possibilities Analysis The table below is a set of hypothetical production possibilities for a nation. . Automobiles Beef Combination (thousands) (thousands of tons) 10 4 0 9-4 10 a. Plot these production possibilities data. What is. the opportunity cost of the first 2,000 automobiles produced? Between which points is the oppor- tunity cost per thousand automobiles highest? Between which points is the opportunity cost per thousand tons of beef highest? b. Label a point P inside the...
Which one of the graphs below represents a production function with
both increasing and decreasing returns to scale?
70. Which one of the graphs below could represent a total product curve with constant returns to scale? a) Graphia b) Graph b Graph c d) Graph d e) Graph e 1. Which one of the graphs below represents a production function with both increasing and decreasing returns to scale? a) Graph a b) Graph b Graph c d) Graph d e)...
QUESTION 10 A production possibilities frontier with increasing opportunity cost is considered and one with constant opportunity cost is considered A concave, convex OB.convex, concave. C.concave, a straight line. Dvertical; horizontal QUESTION 11 The idea that all income ultimately goes to households, which then use it to buy goods and services from firms, is a central idea of the A production possibilities frontier B. supply and demand model C. circular flow diagram D.classical model
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