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- + m/StudentFunctions/Interface/acellus_engine.html?ClassID=486002746 YouTube Maps The PPF curve shows a curved, negative relationship between two goods. This means that an increase in the production of one good requires which of the following? A. The greater sacrifices of the other good. 1 B. The smaller sacrifices of the other good. C. The equal sacrifices of the other good. -2022 International Academy of Science. All Rights Reserved.Q1) Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of Production Possibility Curve. ie.) the shapes of PPC and the main assumption behind these two.a) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost Type and answer using only one of the underlined words above b) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant Type and answer using only one of the underlined words above c) Suppose a technology is banned due to its adverse environmental impacts. Would the production possibilty curve shift inward or outward or remain constant due to this Type and answer using only one of the underlined words above d) How will a policy encouraging more immigration would shift the production possibility forntier. It will shift inward or outward or remain constant Type and answer using only one of the underlined words above
- Which of the following statements is incorrect regarding the PPF model? a. A decrease in resource availability would cause the PPF to shift in closer to the origin. b. Points that are currently outside of the PPF could be attainable with increased resource availability and/or improved technology. c. The points on the PPF where the curve touches the axes are clearly the best ones for the firm to produce. d. If the goods sector of an economy is being studied, the axes will be labeled consumer (or consumption) goods and capital goods. e. If an entire economy is being studied, the axes will be labeled goods and services.2) Write a clearly normative economic statement referring to comparative advantage.Explain why is it a normative statement.Q.20 What will be the shape of PPC when marginal opportunity cost is increasing? (a) Concave to the origin (c) Upward sloping (b) Convex to the origin (d) both (a) and (c) (b)
- In an economy, production takes place only on PPCCombinations of points which are outside of the PPC curve are impossible to achieve because of limitations in resources Select one: True FalseIf it is more efficient for a country to produce a mixture of all goods (a combination that contains both products on a two dimensional PPC), which statement regarding their PPC is correct? a) This curve is a concave PPC. b) This curve is a convex PPC. c) This curve does NOT demonstrate the Law of Increasing Opportunity Cost. d) This curve does NOT demonstrate the Law of Diminishing Returns. e) It is best for this economy to produce inside the PPC and NOT on the curve.
- Q1. What is the difference between Straight line PPF and bowed outward PPF?Q2. What does point Y represent on the PPC? Production Possibility Frontier (PPF) B Product B: Cotton a) Efficiency b) Unattainable / impossible c) Inefficiency d) Nothing Answer Explain your answer: Product A: WineRefer to FIGURE 1. FIGURE 1 Food (2).pdf LE 80 60 40 20 D G B 20 40 60 80 100 110 120 140 160 180 200 Clothing If the economy were operating at point F (inside the PPC)
