Explain opportunity costs using a ppf, Microeconomics

Assignment Help:

Explain opportunity costs using a PPF where investment goods are on one axis and consumption goods on the other.

Again, a good definition of opportunity costs linked to the notion of limited societal resources is the answer. Suppose two bundles of goods - capital and consumption goods - and maximum efficiency in the economy being attained (the economy is producing on the PPF), then any enhance in the production of investment goods will of course mean an opportunity cost in terms of quantity of consumption supplies given up.

 


Related Discussions:- Explain opportunity costs using a ppf

Oxidation stete, write name and symbol of element from s-block that has zer...

write name and symbol of element from s-block that has zero oxidation state?

Private benefit and social benefit, Private benefit and social benefit: ...

Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence

Aspects to promote administrative reforms, Aspects to promote administrativ...

Aspects to promote administrative reforms: Following aspects to promote administrative reforms:  1) A closer focus on results in terms of efficiency and effectiveness, and

Define shortages occur when price controls are in effect, Why is it true th...

Why is it true that shortages usually occur mainly when price controls are in effect? In the nonexistence of price controls the shortage generally goes away quickly because price

Consumer=m, consumer=m with the help of indifference curve analyis

consumer=m with the help of indifference curve analyis

Economic Question , 4) The prevention of major swings in economic activity ...

4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector

How multinational companies help developing countries, Evaluate the role of...

Evaluate the role of multinational companies in helping developing countries to achieve economic growth/development. Explanation of growth; enhance in GDP per time period Ex

Write Your Message!

Captcha
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