An ourward shift of the production possibility frontier maybe caused by: A. An increase in demand at lower market prices B. Less government soendung C. Better trainingvof employees which resulted in increased productivity D. Productive inefficiency as a result of inadequate factory machine

Q: how does outsourcing help the econoy vs hurt the economy

A: Outsourcing can help businesses get the most out of their money.

Q: Resource use is efficient when OA. workers receive an income equal to that made by their employers…

A: Production factors are the components required for economic production to take place. These include…

Q: A

A: Businesses employ the microeconomics idea of profit maximisation to determine prices, output, and…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: To determine the correct option, we need to understand two key concepts: Conversion Cost and…

Q: Chile and Xngon fing peanut butter, asing laber as their enly Pressince. Each pub pro luce ielly…

A: wo countries: Chile (C) and Argentina (A) Two goods: Jellybeans (J) and Peanut Butter (P) One factor…

Q: Describe a constant production possibility frontier cost graph.

A: The objective of this question is to describe a constant production possibility frontier (PPF) cost…

Q: Suppose two countries are considering a new agricultural trade agreement with each other. CountryA…

A: As in country B, there is abundant land, and in country A, there is scarcity of land, so the land…

Q: What's in the flow? Use the infomation fromyour PowerPoint (week-1) to answer the following…

A: In a resource market, a firm can purchase resources needed to produce a good, i.e., land, labor,…

Q: Who answers the three key economic questions in a command economic system? O custom & tradition…

A: In command economy all the production and allocation decisions are centralised.

Q: Do not use chatgpt

A: The production possibilities frontier (PPF) illustrates the maximum feasible combinations of two…

Q: The following table lists the prices of a small market basket purchased in both 2012 and 2022.…

A: The importance of cost of living measures is seen day-to-day activities. They are critical in…

Q: me table below shows the production possibilities for Canada and Japan. Suppose that, prior to…

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

Q: Based on the figure of post glacial sea level rise since the most recent retreat of the North…

A: The given question has been answered from the perspective of 'Environmental Economics'.Sea level…

Q: Introduce supply chain and identiy relevant economic problems and contracting processes to your…

A: The network of all individual organizational actions and technological components involved in the…

Q: The production possibilities frontiers depicted in the diagram to the right illustrate A. both the…

A: The production possibility curve shows the trade-off between the two commodities that arises from…

Q: Suppose that there is sudden new trend for high school students all over the Philippines to ride…

A: The demand for a good is what people want to buy, and what is affordable for them. The goods, and…

Q: Technological change is said to be exogenous because it OA. is encouraged by rivalry among firms. B.…

A: The improvement of new or existing technology in the production of goods is known as technological…

Q: a. The allocation of different jobs to different people is referred to as the of labour. The…

A: The term "division of labour" refers to the practice of breaking down the production process into…

Q: Explain three different kinds of economic systems. Explain the Law of Diminishing Returns and…

A: Question 1) An economic system refers to the set of rules and regulation or a mechanism which is…

Q: How does a pure command economy answer the basic question of which goods and services should be…

A: When talking about the types of economies, it can be seen that there are different economic systems…

Q: O Attainable and Efficient O Utility Maximizing O Attainable but Inefficient O Unattainable of…

A: The production possibility curve depicts the separate combinations of goods that can be produced in…

Q: Carefully explain how the following hypothetical situations would affect the cost. benefit…

A:

Q: In the short run, an increase in output at low levels of production will most likely cause:   A.…

A: Increasing Returns to Scale:Increasing returns to scale occurs when doubling inputs more than…

Production Possibility Analysis

The production possibility analysis comprises the production possibility frontier (PPF), or the production possibility curve (PPC) to evaluate a society or even an economy. The production possibility curve represents the cost that the society has to incur for choosing between two different commodities. It is assumed that an economy that operates at the highest production possibility curve is known to have a better standard of living which the society can achieve for producing the optimum level of output which it can produce given a specified number of factors of production or inputs or resources.