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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 a production possibility frontier curve?
Basically the PPC represents the hypothetical amount of two different goods that could be obtained by using resources from the production of one for the production of the other. It also describes society's choice between two different goods. When a point is on the curve it means all the resources for those goods is at full employment, anything under the curve is at under-employment, and anything beyond the curve indicates potential growth.
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.
