When constructing a production possibilities frontier, which of the following assumptions is not made? (A) A country produces only two goods or types of goods. (B) The amount of available resources does not change. The technology available to firms is given. There is a fixed quantity of money.

Q: Any point on a country's production possibilities frontier represents a combination of two goods…

A: Production possibility frontier is used for 2 goods. These two goods can be anything.

Q: Which of the points are feasible and which are efficient

A: Production possibility frontier represents the different combination of two goods that can be…

Q: A point inside a production possibilities frontier?

A: Production Possibility Frontier: It refers to the graphical representation of various possible…

Q: Most economists believe the scarcity of resources will persist. Why?

A: Scarcity refers to the situation when the economic resources are limited and the needs of the…

Q: Write a synthesis about this, "The Cost of Production"

A: The process of combining a variety of material and immaterial inputs (plans, know-how) to create a…

Q: how to find the Production possibilities frontier

A: PPF (Production Possibility Frontier): It refers to the graphical representation of all possible…

Q: production possibility frontier (PPF) for production of bread and butter. Which of the following is…

A: Opportunity cost is the value of the next best option that must be traded up when a choice is taken.…

Q: Is it true or false for each part. Part A. The negative slope of a production possibilities…

A: A production possibility frontier is the graph which indicates the various production possibilities…

Q: In product development, give two factors in relation to economic considerations and explain its…

A: Economics is the branch of knowledge in which we study scarce resources and unlimited wants.…

Q: A curve that shows the maximum amount of any two products that can be produced in an economy from a…

A: In economics, the problem of scarcity which is universal in nature is studied and addressed. Because…

Q: Scarcity is represented on the production possibilities frontier by   the amount of the good on the…

A: Scarcity is represented on a production possibility frontier graph by the fact that there are…

Q: Why should the economic decision be based on the objective of making the best use of limited…

A: Economic decisions are the decisions by economic agents in order to sort out problems related to…

Q: This diagram represents the production possibility frontier of a Country. Point A has coordinates (0…

A: PPF is the production possibility frontier.  Production possibility frontier shows the production…

Q: slope of the production possibilities frontier illustrates: The demand for the products shown. The…

A: opportunity cost measures the trade-off between two goods.

Q: Which of the following is a correct statement about production possibilities frontiers?    (A) An…

A: The correct option is (C).(C) An economy can produce at any point on or inside the production…

Q: Economics is primarily concerned with the study of: Production and distribution of goods in a world…

A: Economics is the investigation of how societies produce and disperse goods and services in a world…

Q: Use the following information to complete this assignment. A B D E F G Units of capital goods 4 3 2…

A: The production possibility curve shows the combination of goods produced in a country using all the…

Q: Burgers Produced in 1 hr Fries Produced in 1 hr 'Merica 200 400 France 100 300 Based on the…

A: Opportunity cost refers to the value of next best alternative among all available options with the…

Q: Increasing opportunity costs result in a production possibilities frontier that is concave; C:…

A: Production possibility frontier (PPF) shows a probable combination of two commodities produced in an…