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

Production functions, suppose a firm''s total revenue depends on the amount...

suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2

Concept and meaning of infrastructure, CONCEPT AND MEANING OF INFRASTRUCTUR...

CONCEPT AND MEANING OF INFRASTRUCTURE: Infrastructure sectors are the backbone of a national economy. It has been commonly opined that infrastructure development is closely re

Short run costs, A film studio in Hollywood produces movies according to t...

A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $

Lemon market question, buyers cannot tell whether any given car is a lemon....

buyers cannot tell whether any given car is a lemon. The percent of all cars that are lemons is theta. How much is theta when all cars offered are sold?

Explain nominal money supply and real money supply, What is main difference...

What is main difference between nominal money supply and real money supply?  Real money supply is the supply of real money in the economy. Real money is supplied considering th

Explain three argument of promote trade, 1. "Price discrimination allows a ...

1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l

Price elasticities of demand, how to compute the price of a laptop increase...

how to compute the price of a laptop increase of 20% and there is a 40% drop in the aquantity demanded

Explain the terms trade and the balance of trade, Distinguish between the t...

Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp

What is the theory of Second Best?, What is the theory of Second Best? Prov...

What is the theory of Second Best? Prove the theorem with the help of a diagram.

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