--%>
Assignment Help - homework help

Law of rising opportunity costs

Below described table is a production possibilities table for consumer goods (automobiles) and capital goods (forklifts):

1918_Production possibilities curve.png

If the economy is at point C, describe the cost of one more automobile? Of one more forklift? Describe how the production possibilities curve reflects the law of rising opportunity costs.

E

Expert

Verified

4.5 forklifts; .33 automobiles, as find out from the table.  Rising opportunity costs are reflected in the concave-from-the-origin shape of the curve.  This means the economy has to give up larger and larger amounts of rockets to obtain constant added amounts of automobiles—and vice versa.

   Related Questions in Finance Basics

  • Q : Describe the sales forecasting procedure

    Describe the sales forecasting procedure.This is a group effort. Usually sales and marketing personnel provide assessments of demand and the competition. Usually, production personnel provide estimates of manufacturing capacity and other product

    		•
  • Q : Financial Account & International fund

    Question: The Financial Account captures international fund flows due to i._____. ii. Briefly Explain? Answer: (i)    Purchase and selling of assets (ii)   The Financial Account captures th

    		•
  • Q : Advantages of corporation in countries

    Describe some primary advantages while a corporation has operations in countries other than its home country? Explain risks? Foreign operations may decrease a company's labour or material costs, and may raise its sales. Risks comprise possible

    		•
  • Q : What do you mean by Authorized What do

    What do you mean by Authorized: Provided the force of law (example, by statute). For certain action or quantity to be authorized, it should be possible to recognize the enabling source and date of approval.

    		•
  • Q : Make mutual and stockholder-owned

    Compare and make mutual and stockholder-owned savings and associations of loan. Some savings and loan associations are owned through stockholders, just as commercial banks and other corporations are owned through their stockholders.  Other

    		•
  • Q : Bg explain factors that responsible for

    explain factors that responsible for the recent surge in international market

    		•
  • Q : What is in store for banking

    What is in store for banking consolidation? Merger activity is a natural procedure by which companies make themselves more efficient and better capable to compete for customers. The banking industry is no exception

    		•
  • Q : Assignments i want to write final state

    i want to write final state report. My state is Texas.

    		•
  • Q : Demand for small automobiles Normal 0

    Normal 0 false false

  • Q : Describe the Hirfindahl-Hirschman Index

    Describe the Hirfindahl-Hirschman Index?The Hirfindahl-Hirschman Index, or HHI, is the standard measure employed by economists to evaluate market concentration. The greater the level of concentration amongst competitors, the higher the HHI. The

    		•