Question

Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of...

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.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Ans : constant opportunity cost shows straight line PPC while increasing opportunity cost shows concave PPC.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Production Possibilities Frontier: What is Law of increasing opportunity cost? Does the law of increasing opportunity...
Production Possibilities Frontier: What is Law of increasing opportunity cost? Does the law of increasing opportunity cost apply for the production possibility frontier in the case of Rabbits and Berries? If the opportunity cost of Rabbits with respect to Berries(and/or vice versa)was constant, what would the PPF look like?
2. Explain the law of increasing opportunity cost in a production possibility curve. What is the...
2. Explain the law of increasing opportunity cost in a production possibility curve. What is the reason for increasing opportunity cost?
. Marginal opportunity cost is increasing if: A) all inputs are equally adaptable to the production...
. Marginal opportunity cost is increasing if: A) all inputs are equally adaptable to the production of all goods. B) the production possibility curve is a downward sloping straight line. C) all inputs are not equally adaptable to the production of all goods. D) each input can be used to produce more than one go
What is the differences between the two-country, two-good model with constant costs of production and the...
What is the differences between the two-country, two-good model with constant costs of production and the model with increasing costs of production. Adequately describe the production possibilities curves for each country in each case. Describe free-trade production and the degree of specialization in each country under both cost situations.
Discuss the differences between opportunity costs and sunk costs. What are these costs used for by...
Discuss the differences between opportunity costs and sunk costs. What are these costs used for by managers in decision-making?
Discuss the differences between price analysis and cost analysis.
Discuss the differences between price analysis and cost analysis.
Explain the difference between and constant and increasing cost industry and how the shape of the...
Explain the difference between and constant and increasing cost industry and how the shape of the long-run supply curve will be different for each. Which type of industry is more common? What is the relationship between time and elasticity of supply? Why is it so? In a price searcher market with low barriers, the price of a good will vary and often be higher than in a price taker market. Is this economically inefficient? Are there benefits associated with this...
6.Explain the differences between absolute and comparative advantage. 7. Explain the relationship between scarcity and opportunity...
6.Explain the differences between absolute and comparative advantage. 7. Explain the relationship between scarcity and opportunity cost.
•Discuss main types of hemicellulose present in softwood and hardwood. •Explain the differences between amorphous and...
•Discuss main types of hemicellulose present in softwood and hardwood. •Explain the differences between amorphous and crystalline cellulose
A patient has been diagnosed with type II diabetes. Discuss the differences in terms of dietary...
A patient has been diagnosed with type II diabetes. Discuss the differences in terms of dietary and pharmacologic management between type I and type II diabetes.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT