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What are the other names for production possibility curve?
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
Point F violates which assumption of the Production Possibility Curve?
Point F violates the assumption of the production-possibility curve that resources and technology are not fixed. The curve is sometimes referred to as the productionâ??possibility frontier.
Why is the production possibility curve bowed out from the origin of the curve?
Diminishing Marginal returns to capital and labor.
A perfectly price- inelastic demand curve is A horizontal b downward sloping c upward sloping d vertical?
A perfectly price-inelastic demand curve is vertical (Parallel to Y-axix) because the percentage change in quantity demanded is nil whatever the percentage change happens in price.
What is the difference between straight line production possibility curve and a bowed out production possibility curve?
When a prod poss curve is a straight line, usually it is an exception, this means that as you produce more of one thing you constantly give up the same proportion of another thing as the scenario would be that the factors of production are 100% mobile. With a bowed out prod poss curve, usually called normal, the situation would be that as you produce more of product A you give up alot of B but eventually the rate of substitution begins to decline due to lack in factor efficiency and so the curve becomes less elasstic. Hope this answeres your question. all the best,
Why is the demand curve for labor downward sloping?
The demand curve for labor is downward sloping because as the wage rate decreases, employers are willing to hire more workers to save on costs and increase production.
Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
Is the demand curve always downward sloping?
Yes,it's always downward sloping
How does a market demand curve differ from a demand curve How are they similar?
downward sloping
What are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
What does a downward sloping demand curve signify in economics?
A downward sloping demand curve in economics signifies that as the price of a good or service decreases, the quantity demanded by consumers increases.
What are the other names for production possibility curve?
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
Characteristics of production possibility curve?
It slopes downward towards right:this shows that we will have to reduce the production of one commodity to increase the production of the another commodity.
The law of demand is illustrated by a demand curve that is.......?
downward sloping
What is the Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What is the demand curve faced by a pure monopolist?
The demand curve faced by a pure monopolist is of downward sloping in shape.
Why is the demand curve downward sloping?
The demand curve is downward sloping because as the price of a good or service decreases, consumers are willing and able to buy more of it. This relationship between price and quantity demanded is known as the law of demand.
