Nation is producing on production possibilities frontier

Assignment Help Business Economics
Reference no: EM131007168

When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods

A) must change, but they might increase or decrease

B) might increase if the nation can produce more efficiently

C) must increase

D) must remain the same

E) must decrease

Reference no: EM131007168

Questions Cloud

What is the center line : a) What is the center line? b) Calculate the upper control limit. c) Calculate the lower control limit. d) Create the c chart for this two-week period.
How are these techniques used in application audits : What is transaction tagging? What is snapshot? How are these techniques used in application audits?
Determine the effect of this tax on the firms revenue : There is a representative firm that produces output (Y ) by using capital (K) and labor demanded (Nd) through the following Cobb-Douglas production: Write down the firm’s new profit equation with the producer tax. Determine the effect of this tax on ..
Problem regarding the defect monitoring : Defect monitoring. The following data are from a production process that makes 250 units each hour. The data were collected over a normal 12-hour shift one day. The data are shown in the table at the right. Using the first 10 hours as the calibrat..
Nation is producing on production possibilities frontier : When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods
What are some of the typical phases an organization : What are the critical areas that management needs to consider when introducing new technologies into the audit process? What are some of the typical phases an organization goes through?
Process for making accurate meter sticks : Assuming that the process was in control during the calibration period, is the company's process for making accurate meter sticks out of control?
Create and administer a survey of potential customers : Consider that you just got your dream job as a marketing research manager of a small company. Your first duty is to create and administer a survey of potential customers. Your new company wants the survey done as soon as possible. About 75% of the wa..
Determine which items are in error : Which of the following is an advantage of corporations relative to partnerships and sole proprietorships?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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