Define it and explain how it relates to the ppc

Assignment Help Business Economics
Reference no: EM131236628

The Production Possibilities Model is one of the first Economic Models students learn about. a. Please explain what the mode teaches us. b. Please explain each of the 4 assumptions of the model. c. Please explain Productive Efficiency and how it relates to the ppc. i. Define it and explain how it relates to the ppc. d. Please explain Allocative Efficiency and how the point of AE is found. i. Define it, ii. Discuss the significance of allocative efficiency relative to the model iii. Explain the 2 step process for finding the point of allocative efficiency on the PPC. e. On the topic of Economic growth: i. What does it mean? ii. How can it be graphically represented? iii. What are the prerequisites to Economic growth? iv. Why is Economic growth important? v. What factors tend to limit growth? f. The Presentville – Futureville case: 1. Explain what motivates each group to make decisions. 2. Explain the impact of those decisions on the future of each group. 3. Explain the relevance of this case for the U.S. Economy. 4. What does this case teach you? g. Law of increasing opportunity cost: 1. What does it tell us? 2. How could it be explained graphically? h. Explain how you could use the Production Possibility Model to represent the US Economy during 2008 – 2010.

Reference no: EM131236628

Questions Cloud

Determine equilibrium e acts of shock on aggregate output : Suppose that the government decides to increase G. Using a diagram, determine the equilibrium e acts of this shock on aggregate output, consumption, employment, and the real wage. Show that increasing G can potentially increase welfare. Compare your ..
What happens to the equilibrium price and quantity of salsa : Many consumers like to eat their salsa with tortilla chips. In economics, these products are often reffered to as complements. What happens to the equilibrium price and quantity of salsa if the price of tortilla chips increases? Why?
What are sellers trying to accomplish : Supermarkets and retailers always have decor and whatnot for various holidays (Halloween, Christmas etc..) as soon as the holiday passes, see all these products severely marked down. How does economic theory explain this price drop? What are sellers ..
The circular flow model with government is another model : The Circular Flow Model with Government is another important model for students to understand. Please explain what the model shows us. List and explain the assumptions of the model. i. There are 3 assumptions of the Circular Flow Model with Governmen..
Define it and explain how it relates to the ppc : The Production Possibilities Model is one of the first Economic Models students learn about. Please explain what the mode teaches us. Please explain each of the 4 assumptions of the model. Please explain Productive Efficiency and how it relates to th..
Have you or members of your family cut back on spending : Have you or members of your family cut back on spending? If so, in what ways? Have you or members of your family tried to save more? Why or why not?
Two? utilities-peoples electric and municipal? energy : Suppose two? utilities, People's Electric and Municipal? Energy, each produce 200200 tons of pollution per year. The government has a goal of eliminating half the? pollution, and, in? turn, provides 100100 pollution permits to each utility. A polluti..
More energy-efficient and environmental-friendly equipment : A manufacturing plant is planning to replace outdated equipment with more energy-efficient and environmental-friendly equipment. Two models are under consideration. Model A is sold for $159,000 and can produce at an optimum speed of 78 unit/hour.
What are the potential costs and risks to apple : What are the benefits to Apple of outsourcing the assembly of the iPhone to foreign countries, and particularly China? What are the potential costs and risks to Apple? In addition to Apple, who else benefits from Apple's decision to outsource assembl..

Reviews

Write a Review

 

Business Economics Questions & Answers

  Demand facing your situation

Graph the Demand facing your situation. Note that this requires information from the Supply Determinant analysis before deciding how to draw the curve(s), as you may need a separate MR curve.

  The main argument against monetary policy

The main argument against monetary policy is that it affects only nominal variables, not real variables. Explain this argument using the two methods below. Explain and show on a graph the short-run and long-run equilibrium changes in the AD/AS model ..

  Important changes to the law of government programs

The affordable care act made important changes to the law of government programs and to the law of fraud and abuse. Please explain what changes were made and what programs this involved specifically.

  Determine rate of return of on investment in this machine

The first cost of a production machine is $75,000. The machine will generate net annual income of $13,275 during its useful life of 10 years. Determine the rate of return of on investment in this machine. Express the answer as an integer. For example..

  Explain them using simple demand-supply model

The emerging markets elected to accumulate vast sums of foreign assets in the 2000s. How did (real) interest rates evolve over this period? How can one explain them using a simple demand-supply model?

  What is the benefit to consumers and manufacturers

In the past year, oil prices have plunged from more than $100/barrel to less than $50/barrel. What impact has this had on OPEC and other oil producing nations? What's the benefit to consumers and manufacturers?

  What would the equivalent equal annual payment

Assume that you borrow $15,000 for five years (annual payments) at a market rate of 5%. Assuming that inflation is 3.5%, what would the equivalent equal annual payment be in constant dollars?

  Various executive compensation plans have been

Various executive compensation plans have been employed to motivate managers to make decisions that maximize shareholder wealth.   These include:

  Describe characteristics of optimal contracts in principal

Describe the characteristics of optimal contracts in principal-agent problems when the agent (manager) is risk neutral.

  How might you account for the discrepancy

If $30 can buy a dozen roses in the United States, and purchasing power parity holds, then $30 should also be enough to buy a dozen roses in Turkey—or, more specifically, the Turkish lira equivalent of $30 should be sufficient to buy a dozen roses in..

  Transaction imposes external costs

If a transaction imposes external costs, then: A) too much is being produced relative to the socially optimal amount. B) Production should be increased to generate enough profits to cover those costs. C) all production of the good or service should c..

  At the peak of the financial crisis

At the peak of the financial crisis, you had lost 40% of your stock holdings, leaving you with stocks with $10,000. You asked your family for advice on what to do with your money. If you decided to follow your mother’s advice, what is the opportunity..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd