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Explain opportunity costs using a PPF where investment goods are on one axis and consumption goods on the other.
Again, a good definition of opportunity costs linked to the notion of limited societal resources is the answer. Suppose two bundles of goods - capital and consumption goods - and maximum efficiency in the economy being attained (the economy is producing on the PPF), then any enhance in the production of investment goods will of course mean an opportunity cost in terms of quantity of consumption supplies given up.
Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al
The Productivity Growth Slowdown However in 1973 steady trend of climbing rates of productivity growth stopped cold. Between 1973 and 1995 measured growth in output per worker
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Discriminatory Fee Structure This method discriminates between courses and the economic condition of the family to which the student belongs. The cost of providing the educati
In this assignment you will apply consumer choice theory and marginal analysis to business problems. Consider each of the following products and services: a pair of tickets to a s
Is Nigeria''s census accurate?
1. National Marine Fisheries Service is considering closing a large area of federal waters to fishing in Alaska due to negative interactions of fishing with endangered Steller sea
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