Explain opportunity costs using a ppf, Microeconomics

Assignment Help:

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.

 


Related Discussions:- Explain opportunity costs using a ppf

Sales revenue, how advertisement affects the sales revenue of a firm ?

how advertisement affects the sales revenue of a firm ?

Economical and social policy, Topic: Please choose a case study in water re...

Topic: Please choose a case study in water related area and analyse it from at least two angles (or more) by examining the technical side as well as the economical, social and poli

Cardinal utility, what is cardinal utility. Please give an example

what is cardinal utility. Please give an example

Cost function, how do minimum unit costs change with changes in fixed cost?...

how do minimum unit costs change with changes in fixed cost?

A period of transition and improvement, A Period of Transition and Improvem...

A Period of Transition and Improvement: These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an

Elasticity, why is elasticity important for beachfronf properties

why is elasticity important for beachfronf properties

Determinants of social demand for education - externalities, Determinants o...

Determinants of Social Demand for Education - Externalities The state has several objectives of which welfare and development of the people are most important. Promotion of cu

What is deplasmolysis of plant cells, The plant cell when placed under hype...

The plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall. In that situation the cell is known as plasmol

Long-run supply of housing , The Long-Run Supply of Housing * Scenario...

The Long-Run Supply of Housing * Scenario 1: Owner-occupied housing - Suburban or rural areas - National market for inputs * Questions - Is this an increasing or co

Write Your Message!

Captcha
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