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Author Question: Explain how the arrival of inexpensive broadband has changed the PPF. What will be an ideal ... (Read 113 times)

Charlie

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on: Jun 29, 2018
Explain how the arrival of inexpensive broadband has changed the PPF.
 
  What will be an ideal response?

Question 2

Define what is meant to be risk-averse.
 
  What will be an ideal response?


kardosa007

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The arrival of inexpensive broadband shifts the PPF outward as shown by the change from the initial PPF to the new PPF in Figure 3.5 . The intersection of the new PPF along the axis measuring video entertainment increases and the intersection of the new PPF along the axis measuring oth-er goods and services does not change.

Answer to Question 2

It refers to a person's preference of a certain payoff over an uncertain one with the same expected value.


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