PPC schedule, Microeconomics

Assignment Help:
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Resources are limited in such a way that only 75 units of military good can be produced when all resources are employed.
a)How much workers are in the economy?

b)What is the maximum amount of consumer goods that can be produced?

c)Construct the production possibility schedule and curve for this economy.

Related Discussions:- PPC schedule

Asian crisis, Asian Crisis: Between 1997-98, several of the East Asian tige...

Asian Crisis: Between 1997-98, several of the East Asian tiger economies suffered a severe economic and financial crisis. it had big consequences in the global financial markets, t

Cross-price elasticity of demand, Cross-Price Elasticity of Demand is expla...

Cross-Price Elasticity of Demand is explained below: Cross price elasticity of the demand is the percentage change in the quantity demanded of a particular good, with respect t

Cross price , Calculate the cross-price elasticity of demand between comput...

Calculate the cross-price elasticity of demand between computers and printers, where a 10 percent decrease in the price of computers results in a 15 percent increase in the quantit

Monopolistic competition maximizes, "A firm in monopolistic competition max...

"A firm in monopolistic competition maximizes its profit by producing where its price is equal to its marginal cost." Is this statement correct or incorrect?  Explain.

Individual demand, INDIVIDUAL DEMAND * Price Changes - Using figures...

INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves.  Effect of Price

Real interest rate, Real Interest Rate: Interest rate on a loan, adjusted f...

Real Interest Rate: Interest rate on a loan, adjusted for rate of inflation. Real interest rate represents real burden of an interest payment. Real interest rates should be positiv

Restrictions on international trade, Protection against dumping: It co...

Protection against dumping: It could be looked at as the export of commodities priced below cost of production. Dumping is generally looked upon as an unfair trading practice

Political economy, Consider the model of corruption explored by Shleifer an...

Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq

Psychology, How might you determine whether flute-playing ability is a high...

How might you determine whether flute-playing ability is a highly heritable trait? If you want to improve your flute playing and someone tells you that musical ability is heritable

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