Sketches on the horizontal axis

Assignment Help Business Economics
Reference no: EM132328706

Amy Canvas is an artist who produces sketches and paintings. She can produce 12 sketches a week if she spends all of her workday sketching. She can produce 3 paintings a week if she spends all of her workdays painting. The rate at which she produces either sketches or paintings is independent of how many she makes. She can divide her time in any way she wishes between sketching and painting. If you draw her production possibilities frontier with sketches on the horizontal axis and paintings on the vertical axis, the production possibilities frontier will be...

Please provide an explanation to your answer in order to help me understand why

Reference no: EM132328706

Questions Cloud

Explain how employee accountability will be tracked : The last element of the strategic plan consists of constructing the technicals. The technicals element includes items such as developing strategic goals.
What proteins-recpetors-systems your drug interacts : What proteins/recpetors/systems your drug interacts with and what this does to the systems. What naturally occuring biomolecule it mimics/resembles
What would you do for the current us economy : As a classical economist or a Keynesian economist, what would you do for the current U.S. economy?
Common resource and a public resource : What is the difference between a common resource and a public resource?
Sketches on the horizontal axis : Amy Canvas is an artist who produces sketches and paintings. She can produce 12 sketches a week if she spends all of her workday sketching.
Economically depressed but has lot of species diversity : Choose an area that is economically depressed but has a lot of species diversity, you need to protect the species while providing jobs for locals.
Stackelberg leader in choosing its quantity first : Suppose that Firm 1 is a Stackelberg leader in choosing its quantity first. Firm 1's profit function can be written as....
Statute and allow free enterprise to run its course : The question to you is: Should Congress abolish the statute and allow free enterprise to run its course?
Expansionary and contractionary fiscal policy : Compare and contrast expansionary and contractionary fiscal policy, be as detailed as possable

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