Explain the issue using a ppf, Microeconomics

Assignment Help:

A country s choice among the production of education and nuclear submarines is an issue of opportunity cost.

Explain the issue using a PPF.

Resources are limited whereas wants are infinite and the choices made lead to opportunity costs - explained as the next-best alternative given up. The PPF determines the opportunity cost in the movement along the PPF; enhance in submarines has an opportunity cost of an amount of education as societal resources are limited.

 


Related Discussions:- Explain the issue using a ppf

What is demand curve, Demand Curve The demand curve is a graph which pr...

Demand Curve The demand curve is a graph which presents the amount of a good that consumers are willing and able to buy at various prices. A normal demand curve is downward slo

Base case NPV analysis , How base case NPV analysis is applied in financial...

How base case NPV analysis is applied in financial risk management

Determine customer satisfaction levels, Periodically, Merrill Lynch surveys...

Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co

Production and cost, Q=2h find the marginal point. where q is the quantity ...

Q=2h find the marginal point. where q is the quantity of electricity in MW-h and h is the amount of water (in 100s of liters per hour)

income and cross elasticities of demand, What are the income and cross ela...

What are the income and cross elasticities of demand?  Why might they be useful?  Explain.

Institutional intervention on deightweight loss, so this question asks for ...

so this question asks for the deadweight loss if an institution decided to provide this service free of charge. I was wondering if this will achieve the socially efficent level or

Rational producer, in the context of managerial economics how do you explai...

in the context of managerial economics how do you explain a rational producer.illustrate giving example.

Balance of payment, Balance of payment: It is an account that summariz...

Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on

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