Also, supposing there is a discovery of steel in Nepal, explain the impact of steel on the economy of Nepal using one of the PPF above.

Q: What would it take for a point beyond the PPF to ultimately become attainable? Name an important…

A: When resources are limited, the production possibility frontier is a graph that depicts the various…

Q: Brazil is building new factories in using new technology. this is an example of investing in which…

A: Factors of production: the resources which are used for producing goods and services such as land,…

Q: Birefly explain the difference between absolute and relative PPP.

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: opportunity costs in Portugal of producing a bushel of wool

A: Opportunity cost is the cost of next best alternative use. It is the cost which a person or business…

Q: Which of the above 4 graphs best represents the change in the PPF if the economy finds a new deposit…

A: Production possibility frontier (PPF) helps make economic studies on the market condition of an…

Q: Why does this PPF have a bowed-out shape? How can the economy increase its production of both tea…

A: We need to draw the PPF curve using the above combinations and tell us about its shape.

Q: Use the following production possibilities frontier for a country to answer the following questions.…

A: Production means goods are produced in such a manner that cost is minimized and production is…

Q: What are the properties of the production possibility curve

A: The production possibility curve, also called PPC is a curve that depicts the allocation of two…

Q: If an economy begins to use its resources more efficiently, it will move farther away from its PPF…

A: PPF curve is the locus of the most efficient allocation of its resources to produce goods as much as…

Q: mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and…

A: The materials which a firm utilizes in the manufacturing to create commodities that can then be used…

Q: What happens to the PPF curve? Also, from the list provided, please choose an explanation as to why…

A: The production possibility curve shows the different combination of two inputs that produce the…

Q: se the following Production Possibilities Graph to explain the concepts of scarcity, choice, and…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: Between a straight line PPF and concave PPF, which one is more realistic? Why? Explain with example…

A: A production possibility frontier (PPF) shows the maximum output combinations of two goods an…

Q: Germany 300 900 T-shirts per year Turkey 500 250 T-shirts per year What is the slope of Germany's…

A: Production possibility curve: The maximum output of two items utilizing a certain quantity of input…

Q: How could a country shift its production possibilities curve to the right through improved…

A: Production possibility curve shows various combinations of two goods that can be efficiently…

Q: An American worker can produce either 5 cars or 8 tons of grain a year. A Japanese worker can…

A: Production possibility frontier shows different combinations of two goods that can be produced with…

Q: BD and India are both producers of garments and rice. Garments require labor and capital, while rice…

A: As Country I is a net exporter of Rice and importer of Garments, it will produce more of rice than…

Q: Explain, using the PPF-indifference curve diagram, how a change in tastes can cause a country to…

A: The PPF is a chart that shows every one of the various blends of result of two goods that can be…

Q: Meanwhile, in the country of Portugal, wool and wine can also be produced according to a linear PPF.…

A: Given: Portugal produces wool and wine.  When all the resources are incorporated in the production…

Q: In 50 words, tell the reason why PPF do not bow inward.

A: Introduction:- The manufacturing process is the procedure used to convert intermediate components…

Q: Q1. What is the difference between Straight line PPF and bowed outward PPF

A: A straight line ppf is a ppf where the opportunity cost is constant.  Slooe of a opf curve shows the…

Q: A  PPF bows outward because?

A: Answer - Production possibility curve represents the maximum amounts of a pair of goods that can…

Q: Between a straight line PPF and a concave PPF, which one is more realistic? Why? Defend your answer.

A: Production possibility curve: The production possibility curve is the curve that exhibits the full…

Q: Between a straight line PPF and a concave PPF, which one is more realistic? Why? Defend your answer.

A: A production possibilities frontier or PPF is a graphical representation of a countries production…