Constant cost production possibility curves lead to __________ specialization. Increasing cost production possibility curves lead to...
Constant cost production possibility curves lead to __________ specialization. Increasing cost production possibility curves lead to __________ specialization.
partial; complete
complete; partial
complete; no
no; partial
Homework Answers
Constant cost specialisation leads to "complete" specialization, increasing cost PPF leads to "partial" specialization. The answer is "B".
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Constant cost production possibility curves lead to __________
specialization. Increasing cost production possibility curves lead
to...
Increased specialization in large firms might lead to: O A. upward-sloping marginal cost curves. O B....
Increased specialization in large firms might lead to: O A. upward-sloping marginal cost curves. O B. horizontal marginal cost curves O C. downward -sloping long-run average cost curves. O D. upward-sloping long-run average cost curves.
13. According to the two production possibility curves shown, Country A should specialize in the production...
13. According to the two production possibility curves shown, Country A should specialize in the production of which of the following? Corn (tons) 6 5 4 3 2 1 Country A Country B 0 2 15 Wheat (tons) a. Wheat b. Both corn and wheat c. Corn d. Neither corn nor wheat. a. 14. Which of the following is NOT a benefit of specialization and exchange? Taxes will be reduced. b. A country can produce beyond its production possibility curve....
The fact that a society's production possibility frontier is bowed out, or concave to the origin...
The fact that a society's production possibility frontier is bowed out, or concave to the origin of a graph, demonstrates the law of _____ opportunity cost. concave constant increasing decreasing
Draw in a paper a production possibility frontier with two products A and B showing increasing...
Draw in a paper a production possibility frontier with two products A and B showing increasing opportunity cost of one product in terms of the other. On the graph, identify the area of feasible outcomes and the area of infeasible outcomes. On the graph, label a point that is efficient and a point that is inefficient. On the graph, illustrate what happen if there is a discovery of a resource needed to make both products A and B, in this...
19. What may be the causes of cost reduction by increasing production volume? (a) Spreading fixed...
19. What may be the causes of cost reduction by increasing production volume? (a) Spreading fixed costs over a large production volume Achieving greater specialization of labor Learning effect a. and c a, b, and c (e)
# 2. In a given country, only two good on the production possibility frontier: s are...
# 2. In a given country, only two good on the production possibility frontier: s are produced: potatoes or airplanes. Here are the points Maximum Annual Output Options Potatoes Airplanes 1,300 1,100 900 700 500 350 450 525 575 630 (i) Draw a production possibility frontier with the quantity of potatoes on the horizontal (Gi) What is the opportunity cost per unit of expending production from 450 airplanes to 525 (ii)at is the opportunity cost per unit of increasing the...
-Jueet 3.4: Production Possibilities Curves using the given production possibility curve as a starting points show...
-Jueet 3.4: Production Possibilities Curves using the given production possibility curve as a starting points show the result of each of the following. e as a starting point, correctly label the graph and There is an increase in unemployment in a nation using all of its resources and producing 20 boats (Horizontal) and 0 cheese balls (Vertical) or 60 cheese balls and 0 boats. 10 . 00 in technol
1. For a constant returns to scale production function: a. marginal costs are constant but the...
1. For a constant returns to scale production function: a. marginal costs are constant but the average cost curve as a U-shape b. both average and marginal costs are constant c. marginal cost has a U-shape, average costs are constant d. both average and marginal cost curves are U-shaped 2. The production function q = 10K +50L exhibits: a. increasing returns to scale b. decreasing returns to scale c. constant returns to scale d. none of the above
1. Use the following table to answer the question. Dave's Production Possibility Schedule Simon's Production Possibility...
1. Use the following table to answer the question. Dave's Production Possibility Schedule Simon's Production Possibility Schedule Pounds of Green Beans Pounds of Corn Pounds of Green Beans Pounds of Corn 0 160 0 80 20 120 40 60 40 80 80 40 60 40 120 20 80 0 160 0 Assume Dave consumes 40 pounds of green beans and 80 pounds of corn without trade. Also, assume that Simon consumes 80 pounds of green beans and 40 pounds of...
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
Increased specialization in large firms might lead to: O A. upward-sloping marginal cost curves. O B. horizontal marginal cost curves O C. downward -sloping long-run average cost curves. O D. upward-sloping long-run average cost curves.
13. According to the two production possibility curves shown, Country A should specialize in the production of which of the following? Corn (tons) 6 5 4 3 2 1 Country A Country B 0 2 15 Wheat (tons) a. Wheat b. Both corn and wheat c. Corn d. Neither corn nor wheat. a. 14. Which of the following is NOT a benefit of specialization and exchange? Taxes will be reduced. b. A country can produce beyond its production possibility curve....
19. What may be the causes of cost reduction by increasing production volume? (a) Spreading fixed costs over a large production volume Achieving greater specialization of labor Learning effect a. and c a, b, and c (e)
# 2. In a given country, only two good on the production possibility frontier: s are produced: potatoes or airplanes. Here are the points Maximum Annual Output Options Potatoes Airplanes 1,300 1,100 900 700 500 350 450 525 575 630 (i) Draw a production possibility frontier with the quantity of potatoes on the horizontal (Gi) What is the opportunity cost per unit of expending production from 450 airplanes to 525 (ii)at is the opportunity cost per unit of increasing the...
-Jueet 3.4: Production Possibilities Curves using the given production possibility curve as a starting points show the result of each of the following. e as a starting point, correctly label the graph and There is an increase in unemployment in a nation using all of its resources and producing 20 boats (Horizontal) and 0 cheese balls (Vertical) or 60 cheese balls and 0 boats. 10 . 00 in technol
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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