This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What does the slope of the production possibilities curve represent? Explain. What will be an ... (Read 94 times)

ssal

  • Hero Member
  • *****
  • Posts: 572
on: Jun 29, 2018
What does the slope of the production possibilities curve represent? Explain.
 
  What will be an ideal response?

Question 2

The assumption that other things are constant is also known as the
 
  A) ceteris paribus assumption.
  B) rational self-interest assumption.
  C) distinguishing characteristic of economics as a science.
  D) relationships assumption.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

juiceman1987

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

It represents the trade-off between two goods from two points on the PPC. Specifically, as we move from one point to another, in order to produce more of one good, we must trade-off or give up the other good. If the trade-off is constant, then the slope is constant along the PPC and the PPC is a straight line. If the trade-off increases, then the slope is increasing along the PPC and the PPC is bowed outward.

Answer to Question 2

A


ssal

  • Member
  • Posts: 572
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Slope Failure and Lithology Slope Failure and Lithology
Block Diagram of a Dual-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Seme Block Diagram of a Dual-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Seme
J or U dose-response curve J or U dose-response curve
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
A 60-kg skier starts from rest from the top of a 50-m high slope. If the work done by friction ... A 60-kg skier starts from rest from the top of a 50-m high slope. If the work done by friction ...
Video: Pressure volume relationships - Normal inspiration and expiration

For a complete list of videos, visit our video library