Production Costs in generating goods

+44 141 628 6080
[email protected]

Production possibilities frontiers be inclined to concave (or bowed out) from the origin as: (1) goods differ in their capacities to gratify individual needs. (2) A land, labor and capital mix is needed for all the production. (3) People vary in their responses to the production incentives. (4) All resources are uniformly suited for generating all the goods. (5) Resources differ in suitability for generating various goods.

Can someone explain/help me with best solution about problem of Economics...

View Complete Question

Related Questions in Microeconomics

Q : Variation in supply and demand curves

These supply and demand curves for housing do NOT involve that the: (w) demand for housing has increased. (x) supply has increased, because rental price has risen. (y) equilibrium price and quantity of housing have increased. (z) housing market will c

Q : Minimizes average cost of output When a

When a monopolist maximizes profit and charges a price equivalent to average cost, in that case the firm: (i) is producing at the minimum point on its marginal cost curve. (ii) also charges a price equal to marginal cost. (iii) is pro

Q : Essay why is marginal revenue

why is marginal revenue product=marginal resource cost a formula for profit maximization?

Q : Analytic Time-Technological Long Run

The chronological time needed for the technology to respond to modifications in profit opportunities (that is, the technological long run, also termed as super long run or temporal long run) is: (1) Longer than analytical long run for firm. (2) Shorter than market per

Q : Derived Demand problem The change in

The change in price of a resource will cause a modification in the: (i) Demand for the resource. (ii) Supply of resource. (iii) Quantity demanded of resource. (iv) Demand for good in resource production. Find out the right answer f

Q : Condition for long-run equilibrium

Which of the given is NOT a condition for long-run equilibrium into a purely competitive market: (w) P = MC (x) MR = MC (y) P = LRAC (z) TFC = TC Can anybody suggest me the proper explanation for given problem rega

Q : Change of tastes and preferences in

Can someone please help me in finding out the accurate answer from the following question. Most of the mass advertising is intended to influence market demand primarily by: (1) Providing full detailed information regarding products. (2) Decreasing pro

Q : AFC curve What does AFC curve appear

What does AFC curve appear like? Why does it appear so?

Q : Comparative advantage of growing fruits

The Oranges are grown-up in Florida and potatoes are grown up in Maine mainly as: (i) There is no orange-grower’s lobby in the Maine to save from harm and Maine oranges from the unfair competition. (ii) Potatoes are not eaten in the Florida. (iii) Maine consists

Q : Illegal price collusion Illegal price

Illegal price collusion is probably when the market structure for an industry is: (1) monopolistic competition. (2) a monopoly. (3) an oligopoly. (4) pure competition. (5) contestable through exit and entry.

Discover Q & A

Leading Solution Library

Avail More Than 1446217 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1929503
Asked

3,689

Active Tutors

1446217

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment