Production possibility frontier ppf, economics, Microeconomics

Assignment Help:

Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.

Related Discussions:- Production possibility frontier ppf, economics

Competitive equilibrium will result in a shortage, a) An enhances in the qu...

a) An enhances in the quantity demanded of a good can happen because consumers expect the price of that good to enhance in the near future. b) A price ceiling imposed above the

Durability of the commodity, Durability of the Commodity: With some comm...

Durability of the Commodity: With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, tele

What do you mean by average product, Average product of a factor is the tot...

Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand

The market supply of labour, graphical illustration describing the influenc...

graphical illustration describing the influence of an increase in immigrants on the market supply of labour

Define the price elasticity, Price elasticity is used in economics to deter...

Price elasticity is used in economics to determine the changes in price of goods and services. It measures the change in price demanded and quality supplied. Determinants of pri

Estimation based on the probit model, Let {(y i ; x i ); 1 ≤ i ≤ n} be an i...

Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0

SAC and LAC, What is the explanation for SAC to be tangent to LAC?(In other...

What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?

Explain total fixed and variable costs, Fixed costs are those which are ind...

Fixed costs are those which are independent of output that is they do not change with changes in output. These costs are a fixed amount which must be incurred by a firm in the shor

Cost-of-living indexes, COST-OF-LIVING INDEXES * The CPI is computed e...

COST-OF-LIVING INDEXES * The CPI is computed each year as the ratio of cost of a typical group of consumer goods and services today in comparison to the cost during a base per

Explain how a floating exchange rate works, Explain how a floating exchange...

Explain how a floating exchange rate works and the variables which affect the rate. Define a floating exchange rate as the price of a currency (in terms of another or basket of

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages