You are reading about on a straight-line production possibilities frontier, which of the following is true?. Here are the best content from the team C0 thuy son tnhp synthesized and compiled from many sources, see more in the category How To.
Outline
hide
Production possibilities frontier | Microeconomics | Khan Academy
Production possibilities frontier | Microeconomics | Khan Academy
Production possibilities frontier | Microeconomics | Khan Academy
Production–possibility frontier [1]
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time. A PPF illustrates several economic concepts, such as allocative efficiency, economies of scale, opportunity cost (or marginal rate of transformation), productive efficiency, and scarcity of resources (the fundamental economic problem that all societies face).[1]
One good can only be produced by diverting resources from other goods, and so by producing less of them.. Graphically bounding the production set for fixed input quantities, the PPF curve shows the maximum possible production level of one commodity for any given production level of the other, given the existing state of technology
PPFs are normally drawn as bulging upwards or outwards from the origin (“concave” when viewed from the origin), but they can be represented as bulging downward (inwards) or linear (straight), depending on a number of assumptions.. An outward shift of the PPC results from growth of the availability of inputs, such as physical capital or labour, or from technological progress in knowledge of how to transform inputs into outputs
[Solved] A) If a production possibilities frontier is a straight line, then… [2]
Pellentesque dapibus efficitur laor
sectetur adipiscing elit.
sectetur adipiscing elit. Nam risus ante, dapibus a molestie consequat, ultrices ac magna
Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Lorem ipsum dolor sit amet, consectetur adipiscing elit
Nam risus ante, dapibus a molestie co
sectetur adipiscing elit. Nam risus ante, dapibus a molestie consequat, ultrices ac magna
[Solved] (A) : The production possibility Frontier can be a straight [3]
(A) : The production possibility Frontier can be a straight line.. (R) : The factors are not specialised and can be substituted at no extra cost.
– The graph known as the Production Possibilities Frontier (PPF) illustrates all the possible output combinations of two items that can be created with the resources and technologies currently in use.. – The PPF effectively expresses the ideas of choice, tradeoffs, and scarcity.
Important Points (A) : The production possibility Frontier can be a straight line:. – The production possibility Frontier can be a straight line but in reality, this scenario is uncommon and the PPF is more often shown as an outward bending curve.
[Solved] A) If a production possibilities frontier is a straight line, then… [4]
Pellentesque dapibus efficitur laor
sectetur adipiscing elit.
sectetur adipiscing elit. Nam risus ante, dapibus a molestie consequat, ultrices ac magna
Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Lorem ipsum dolor sit amet, consectetur adipiscing elit
Nam risus ante, dapibus a molestie co
sectetur adipiscing elit. Nam risus ante, dapibus a molestie consequat, ultrices ac magna
Trắc nghiệm Kinh tế Vi mô [5]
refers to the technology used in such goods as computers and military aircraft.. marks the boundary between attainable combinations of goods and services and unattainable combinations.
those combinations of goods and services that can be produced and those that can be consumed.. those combinations of goods and services that can be produced and those that cannot.
those wants that are limited and those that are unlimited.. Question: The production possibilities frontier is the boundary between those combination of goods and services that can be
If the PPF is linear, i.e., a straight line, which of the following is true?a)As the production of a good increases, the opportunity cost of that good rises.b)As the production of a good increases, th [6]
If the PPF is linear, i.e., a straight line, which of the following is true?a)As the production of a good increases, the opportunity cost of that good rises.b)As the production of a good increases, the opportunity cost of that good falls.c)Opportunity costs are constant.d)The economy is not at full employment when operating on the PPF.Correct answer is option ‘C’. Can you explain this answer? for CA Foundation 2023 is part of CA Foundation preparation
Can you explain this answer? covers all topics & solutions for CA Foundation 2023 Exam.. Find important definitions, questions, meanings, examples, exercises and tests below for If the PPF is linear, i.e., a straight line, which of the following is true?a)As the production of a good increases, the opportunity cost of that good rises.b)As the production of a good increases, the opportunity cost of that good falls.c)Opportunity costs are constant.d)The economy is not at full employment when operating on the PPF.Correct answer is option ‘C’
Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
MCQs on Introduction to Microeconomics [7]
Introduction to Microeconomics is one of the most important topics in economics. Microeconomics is mainly concerned with the behaviour of decision takers like individuals, households or firms within an economy
The study of microeconomics is in direct contrast to the study of macroeconomics, which looks at the entire economy as a single unit and studies its features accordingly.. We have collated a list of multiple-choice questions on Introduction to Microeconomics below to help the students develop a deeper understanding of the topic.
– One of the major causes of economic problems is unlimited human wants. – One of the major causes of economic problems is the alternative usage of resources
Oxford University Press [8]
King: Economics Chapter 02 Instructions Answer the following questions and then press ‘Submit’ to get your score. Question 1 Which of the following is not required for a country to be producing at a point on its production possibility frontier? a) Full employment of labour
b) The production possibility frontier is straight because some resources are better suited to making some products than others. c) The production possibility frontier is steeper at the left end than the right because some resources are better suited to making some products than others
Question 3 Which of the following will not shift a country’s production possibility frontier? a) A fall in unemployment. Question 4 Which of the following types of economy describes the economy of the UK? a) A command economy
Production–possibility frontier [9]
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time. A PPF illustrates several economic concepts, such as allocative efficiency, economies of scale, opportunity cost (or marginal rate of transformation), productive efficiency, and scarcity of resources (the fundamental economic problem that all societies face).[1]
One good can only be produced by diverting resources from other goods, and so by producing less of them.. Graphically bounding the production set for fixed input quantities, the PPF curve shows the maximum possible production level of one commodity for any given production level of the other, given the existing state of technology
PPFs are normally drawn as bulging upwards or outwards from the origin (“concave” when viewed from the origin), but they can be represented as bulging downward (inwards) or linear (straight), depending on a number of assumptions.. An outward shift of the PPC results from growth of the availability of inputs, such as physical capital or labour, or from technological progress in knowledge of how to transform inputs into outputs
2.2 The Production Possibilities Frontier and Social Choices – Principles of Economics [10]
2.2 The Production Possibilities Frontier and Social Choices. – Interpret production possibilities frontier graphs
– Explain the relationship between a production possibilities frontier and the law of diminishing returns. – Contrast productive efficiency and allocative efficiency
This section of the chapter will explain the constraints faced by society, using a model called the production possibilities frontier (PPF). There are more similarities than differences between individual choice and social choice
The Ricardian Model Production Possibility Frontier [11]
Using the two production functions and the labor constraint, we can describe the production possibility frontier (PPF)The set of all output combinations that could be produced in a country when all the labor inputs are fully employed. First, note that the production functions can be rewritten as LC = aLC QC and LW = aLW QW
This equation has three exogenous variables (aLC, aLW, and L) that we assume have known values and two endogenous variables (QC and QW) whose values must be solved for. The PPF equation is a linear equation—that is, it describes a line
We plot the PPF on the diagram in Figure 2.1 “Production Possibilities” with QC on the horizontal axis and QW on the vertical axis. The equation is easily plotted by following three steps.
Sources
- https://en.wikipedia.org/wiki/Production%E2%80%93possibility_frontier#:~:text=If%20the%20shape%20of%20the,of%20different%20goods%20is%20changing.
- https://www.cliffsnotes.com/tutors-problems/Entrepreneurship/47119621-A-If-a-production-possibilities-frontier-is-a-straight-line-then/#:~:text=Constant%20opportunity%20costs,-Constant%20opportunity%20costs&text=This%20concept%20helps%20to%20explain,matter%20the%20level%20of%20production.
- https://testbook.com/question-answer/a-the-production-possibility-frontier-can-be-a–605064abde5d3cacb5e258ac
- https://www.cliffsnotes.com/tutors-problems/Entrepreneurship/47119621-A-If-a-production-possibilities-frontier-is-a-straight-line-then/
- https://www.vietlod.com/trac-nghiem-kinh-te-vi-mo-c2-en
- https://edurev.in/question/604549/If-the-PPF-is-linear–i-e—a-straight-line–which-of-the-following-is-true-a-As-the-production-of-a
- https://byjus.com/commerce/mcqs-on-introduction-to-microeconomics/
- http://global.oup.com/uk/orc/busecon/economics/king/01student/mcqs/ch02/
- https://en.wikipedia.org/wiki/Production%E2%80%93possibility_frontier
- https://pressbooks-dev.oer.hawaii.edu/principlesofeconomics/chapter/2-2-the-production-possibilities-frontier-and-social-choices/
- https://saylordotorg.github.io/text_international-trade-theory-and-policy/s05-04-the-ricardian-model-production.html
