This topic contains a solution. Click here to go to the answer

Author Question: Suppose the production possibilities for two countries, producing either food or clothing, are shown ... (Read 438 times)

imowrer

  • Hero Member
  • *****
  • Posts: 514


Suppose the production possibilities for two countries, producing either food or clothing, are shown in the above figure. They can each produce any linear combination as well. Measuring food on the horizontal axis, the joint production possibility frontier will have a slope of -1
◦ only when 10-20 units of clothing are produced.
◦ only when 10-20 units of food are produced.
◦ only when 20-30 units of food are produced.
◦ throughout the entire PPF.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

tuate

  • Sr. Member
  • ****
  • Posts: 332
only when 20-30 units of food are produced.





nenivikky

  • Hero Member
  • *****
  • Posts: 516


Suppose the production possibilities for two countries, producing either food or clothing, are shown in the above figure. They can each produce any linear combination as well. Measuring food on the horizontal axis, the joint production possibility frontier has a kink because
◦ each country has a marginal rate of transformation that varies with the product mix.
◦ all production possibility frontiers have kinks.
◦ each country has a constant marginal rate of transformation that differs from the other country.
◦ the two countries have the same marginal rate of transformation.



essyface1

  • Sr. Member
  • ****
  • Posts: 347
each country has a constant marginal rate of transformation that differs from the other country.



newbem

  • Hero Member
  • *****
  • Posts: 579


The above figure shows the demand and cost curves facing a monopolist. The monopoly maximizes profit by setting price equal to
◦ $100.
◦ $200.
◦ $400.
◦ $300.




kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540


The above figure shows the demand and cost curves facing a monopolist. This profit-maximizing monopoly has a revenue equal to
◦ $8000.
◦ $1000.
◦ $5200.
◦ $7500.




 

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

For a complete list of videos, visit our video library