Point inside production possibilities frontier

Assignment Help Business Economics
Reference no: EM131239579

Explain why a movement from a point inside a production possibilities frontier to the production possibilities frontier can be described as a free lunch and a movement along a production possibilities frontier is described as a tradeoff.

Reference no: EM131239579

Questions Cloud

Basic ideas and knowledge of business : From personal perspectives (such as why i choose this major in the university: this major includes all the basic ideas and knowledge of business;/want to understand market and trade;/ then have or start my own business such as a coffee bar )
Third party beneficiary : Third Party Beneficiary: Alexander has been accepted as a freshman at a college 200 miles from his home for the fall semester. Alexander's wealthy uncle, Michael, decides to give Alexander a car for Christmas. Does Alexander have the right to sue Jac..
Collect data and information regarding an rfid system : Each student is required to research and collect data and information regarding an RFID system that can be integrated into a specific business process to solve a problem in their individual industry, career or field of study. The paper should inc..
Spend a combined total : If the price of good x is $ 6 and the price of good y is $ 2, and Mark can spend a combined total of $ 20 each day on these goods, find Mark's optimal consumption basket.
Point inside production possibilities frontier : Explain why a movement from a point inside a production possibilities frontier to the production possibilities frontier can be described as a free lunch and a movement along a production possibilities frontier is described as a tradeoff.
Complete the metal activity series : Complete the Metal Activity Series below by considering the numbers you wrote in the final column of Table 8.2 (ignore Metal ‘Pg' for the moment).
What is the volatility of the ftse 100 : Suppose further that the correlation between the FTSE 100 and the dollar/sterling exchange rate is 0.4. - What is the volatility of the FTSE 100 when it is translated to US dollars?
How can technology reduce errors in medical coding : Based on your past experiences or research and the knowledge gained during your coursework, consider the following question, and post a substantive initial post: How can technology reduce errors in medical coding while helping organizations remai..
Production possibilities frontier is described as tradeoff : Explain why a movement from a point inside a production possibilities frontier to the production possibilities frontier can be described as a free lunch and a movement along a production possibilities frontier is described as a tradeoff.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd