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ppf bowed inward

C. diminishing opportunity costs. Personalized courses, with or without credits. PPF is bowed outwards because some resources are more appropriate to the production of one good then another by the law of increasing opportunity cost. To For instance, how is... Ch. 2 - Look back at Exhibit 4 and notice that the slope... Ch. B) straight line if decreasing opportunity costs exist. False ANSWER: True 3. The money supply includes all of the following EXCEPT a. metal coins. D) straight line if constant opportunity costs exist. My Blog. ANS: b 37. 2 - If PPF1 in the preceding figure is the relevant... Ch. Suspendisse urna nibh, viverra non, semper suscipit, posuere a, pede. 2 - Illustrate constant opportunity costs in a table... Ch. True b. 2 - Tina can produce any of the following combinations... Ch. To produce more good B,it has to give up more good A. a) economies of scope What would it mean if the PPF were bowed inward? a) High speed steel b) Aluminum oxide c) Titanium aluminum oxide d) Polycrystalline diamond... Will an increase in average length of annual vacations cause the national economy's PPF to shift inward or outward? b. paper currency. Ch. Power and Associates conducts vehicle quality surveys to provide automobile manufacturers with consumer sa... (Equilibrium) lf a price is not an equilibrium price, there is a tendency for it to move to its equilibrium lev... (Determinants of Price Elasticity) Why is the price elasticity of demand for Coca-Cola greater than the price e... A friend pays for your lunch. 2 - Can a technological advancement in sector X of the... Ch. A : true B : false Correct Answer : B 4 : With respect to a PPF for goods X and Y, productive efficiency implies that in order to What would it mean if the PPF were bowed inward? When a product transformation curve for a firm is bowed outward, there are {eq}\rule{0.5in}{0.3pt} {/eq} in production. 2 - Can a technological advancement in sector X of the... Ch. Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Your dashboard and recommendations. 2 - Within a PPF framework, explain each of the... Ch. 0 0. b. used efficiently. True b. points inside and points on PPF. If increasingly more units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two goods is a. a downward-sloping straight line. An outward shift of the production possibilities frontier is only possible if the country discovers new resources or there is an improvement in technological development. 3.7 … What does... Ch. b. shifts the PPF outward. To resources are not equally productive in all activities. Alpine Company pays its employees time-and-a-half for hours worked in excess of 40 per week. What is the average cost for the tablets? Ch. Booster Classes . 2 - Suppose a nations PPF shifts inward as its... Ch. Yes it can. Home. 2 - Using the data in problem 8, prove that both Tina... Ch. b. inward shift of the PPF. Refer to Problem 3-11B. Donec odio. ppf would shift inward. D 10.A PPF bows outward because A) resources are used inefficiently. Explain the importance to marketing managers of current demographic trends. Ch. D. diminishing returns to inputs. d. a downward-sloping curve that is bowed outward. A bowed-in PPF would be unusual. Assumes that resources available in the economy and the level of technology are fixed during the period of time. 2 - Within a PPF framework, explain each of the... Ch. Discuss how the efficiency and effectiveness of a mass-transit system in a large city can be measured. A business that upgrades its bread-making equipment, for example, will have its production possibility curve shift outward. a. 2 - If PPF2 in the graph that follows is the relevant... Ch. A factor which is good to produce good A,might not be good for good B. C) curve that is bowed inward if increasing opportunity costs exist. The highest point on the curve is when you only produce one good, on the y-axis, and zero of the other, on the x-axis. Refer to Table 1.6. a. Home » Uncategorized » a production possibilities frontier with a bowed outward shape indicates. An outward shift of the PPF reflects economic growth. ANSWER: c 19. Get the detailed answer: Why is the PPF bowed outward? Economic growth causes the PPF to A) This PPF is a straight line constant cost model. c. relatively cheap at low levels of output. 2 - Can a technological advancement in sector X of the... Ch. It is frequently assumed that PPF is bowed out (concave to the origin) and economic growth occurs when this bowed-out PPF shifts outward. 2.1 - In an economy, only one combination of goods is... Ch. a. economies of scope b. economies of scale c. diseconomies of scope A Production Possibility Frontier (PPF) is a curved bowed out from the origin. D. a parabola. There you produce only grapes using all of your land. 2 - Suppose a nations PPF shifts inward as its... Ch. Aliquam porttitor mauris sit amet orci. I had to make sure i didnt use too much tape on the links, because in the end when i made my BIG round i taped a bunch of pieces of paper together. Home » Uncategorized » a production possibilities frontier with a bowed outward shape indicates. Uncategorized. Production possibilities curves can shift outward but they do not shift inward. d. moves the economy down a given PPF. Why or why not? Discuss the key features of Section 302 of SOX. Changes in Resource Availability. c) The PPF is bowed outward due to the law of increasing opportunity costs. C) curve that is bowed inward if increasing opportunity costs exist. Can a technological advancement in sector X of the economy affect the number of people who work in sector Y of the economy? Correct the number usage in the following sentences taken from a letter or a report. On the chart, that is point F. What the Shape of the Curve Tells You . My PPF bows inward... kind of looks like an exponential graph... 3. The PPF is bowed owtward mainly because of the decreasing opportunity cost.This is mainly because the country is better at one industry than the other.For example assume that a country produces two goods;textiles and soybeans.The textile requires more capital than labour (capital intensive) to produce.The soybeans requires more labour than capital to produce( labour intensive).If a … C) bowed inward. A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are a. better suited for the production of some goods than others. 1 decade ago. Leisure Times, Inc., employs skilled workers and capital to install hot tubs. b. circular. Why or why not? Graphically illustrate this PPF model on a separate sheet of paper and answer which of the following question is true. The opportunity cost of producing more of a good increases because of: A. increasing returns to scale. different goods and it helps to explain why production possibilities curves are typically bowed outward. Bowed shape PPF means the opportunity cost is increasing. 2 - If the slope of the PPF is the same between any... Ch. ii. Get the detailed answer: Why is the PPF bowed outward? 2 - Illustrate increasing opportunity costs (for one... Ch. c) The PPF is bowed outward due to the law of increasing opportunity costs. B. increasing returns to inputs. The following selected transactions were completed by Cota Delivery Service during July: 1. 5. The PPF is typically bowed-outward due to the law of increasing opportunity costs. One cause could be the effects of natural disasters such as drought, earthquakes or severe floods which destroy built-up capital and potentially causes significant loss of life. Does the GDP gap measure all of the costs of unemployment? The PPF may retract or expand depending on circumstances. 2 - Draw a PPF that represents the production... Ch. Why it is treated as a liability? 2 - Use the PPF framework to explain something in your... Ch. 20. Can a technological advancement in sector X of the economy affect the number of people who work in sector Y of the economy? Relevance? ANS: The PPF is typically bowed-outward due to the law of increasing opportunity costs. A bowed out PPF reflects which of the following ideas? Enjoy the atmosphere you Desire with comfort intact; January 2 2021 5. For the fiscal year, sales were 191,350,000 and the cost of merchandise sold was 114,800,000. a. 1. 2 - Explain how to derive a PPE. Booster Classes . Nullam malesuada erat ut turpis. When a product transformation curve for a firm is bowed outward, there are _____ in production. e. a downward-sloping curve that is bowed inward. 2 - Explain how to derive a PPE. Periodic inventory by three methods The beginning inventory for Midnight Supplies and data on purchases and sal... Environmental costs are those costs incurred because poor environmental quality exists or may exist. a production possibilities frontier with a bowed outward shape indicates. a production possibilities frontier is a bowed outward when Introduction to Economics and the Economy 1. 2 - Explain how to derive a PPE. Question: A Bowed Out PPF Reflects Which Of The Following Ideas? I had a limited amount of inputs that i could use to make my links and rounds so i had to balance everything out. in a PPF, the attainable production points are shown as. Donec nec justo eget felis facilisis fermentum. An increase in resources a. shifts the PPF inward. Enjoy the atmosphere you Desire with comfort intact; January 2 2021 More of both goods cannot be produced with the limited resources. Now you want to consider raising 200 llamas (which means moving to point B). d. moves the economy down a given PPF. a production possibilities frontier with a bowed outward shape indicates. What does a bowed-outward PPF represent? d. used to produce consumption goods. Statement of cash flows A summary of cash flows for Sentinel Travel Service for the year ended August 31, 2016,... What is the systems development life cycle (SDLC) methodology? d. more resources. An inward shift of the production possibility frontier (PPF) represents a fall in a nation’s supply-side or productive capacity. i.increasing opportunity cost. c. a downward-sloping straight line. 2 - Suppose a nations PPF shifts inward as its... Ch. For this, at first one needs to be familiar with the two most basic concepts on which the foundation of the economics is based on: opportunity cost and scarcity. In what circumstances or examples can a PPC or Production Possibilities Frontier be bowed inward rather than the usual outward curve? 4. 19. 3.7 … a. What does a straight-line PPF represent? Enjoy the atmosphere you Desire with comfort intact, Best data room provider – Accept Improvements Appropriate on your Time, Writing For Proofreading – The Importance Of Getting the Right Editor, 3 Things Hoteliers Should Do to Attract Local Travelers. C. diminishing opportunity costs. B) The guns (Y) intercept is 5. all points on. Introduction to Economics and the Economy 1. PPF is bowed outwards because some resources are more appropriate to the production of one good then another by the law of increasing opportunity cost. 2 - Suppose there is a PPF with two goods, X and Y.... Ch. C. a straight line. 1 point. 2 - Give an example to illustrate each of the... Ch. Here is a suggested answer to this question: "Using real world examples, examine the possible causes of an inward shift of a nation's PPF." What was the a... How does employee participation increase motivation? b. Preparing for Interviews and Researching Salary Data With Glassdoor: Most likely you are familiar with Unkedln,... BEP, ROE, AND ROIC Duval Manufacturing recently reported the following information: Net income 600,000 ROA 8% ... Cash payback period, net present value method, and analysis McMorris Publications Inc. is considering two new m... Summarize how technology is used to assist collection and analysis of marketing research data. B)positively sloped. typically bowed outward. 1 decade ago. 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But why is it so? D. a parabola. Advocates of the theory of rational expectations believe that a. the sacrifice ratio can be much smaller if pol... What has been the approximate long-run growth rate of real GDP per person in the United States? Imagine you are producing at point A in the graph of part a). d. more resources. 2 - Explain how the following can be represented in a... Ch. It would require that the nation have significant economies of scale in at least one of gun or butter production, so that output is higher when the nation specialised than when it balances its output between the two commo Median response time is 34 minutes and may be longer for new subjects. When PPf shifts inward the standard of living will decrease because the rate of production will be lower since an inward shift is charactaristic of an ecnomic recession. *Response times vary by subject and question complexity. d. an upward-sloping straight line. When is a Production Possibility Curve bowed inward instead of outward? The PPF between goods X and Y will be a downward-sloping A) straight line if increasing opportunity costs exist. D) straight line if constant opportunity costs exist. Straight-line PPF means marginal rate of transformation or opportunity cost is constant.All factors can use to produce any goods. C) bowed inward. A : true B : false Correct Answer : A 3 : Production possibilities frontiers (PPFs) can shift outward, but they do not shift inward. The shape of the curve is generally bowed outward. prices of goods increase over time I only I and iii ii and iii I and ii. 2 - Explain how to derive a PPE. As more of a product is produced, it becomes increasingly more difficult to find resources that are well-suited to producing that product. Complete Parts 2, 4, and 5 of Form 941 (on page 3-59) for Gallagher Company for the thi... What steps are followed in posting from the cash receipts journal to the general ledger? Quisque volutpat mattis eros. Your dashboard and recommendations. 2 - Suppose a nations PPF shifts inward as its... Ch. Clearly explain your answer. 2 - If the slope of the PPF is the same between any... Ch. QUESTION 2. 2 - What exactly allows individuals to consume more if... Ch. It has a bowed-out shape due to the law of increasing opportunity cost. In what circumstances or examples can a PPC or Production Possibilities Frontier be bowed inward rather than the usual outward curve? B) straight line if decreasing opportunity costs exist. The file P02_43.xlsx contains a template for a car loan. Now you want to consider raising 200 llamas (which means moving to point B). If the PPF was bowed inwards, the two goods would require different resources according to increasing opportunity cost and the straight line would require similar resources along with similar goods. 2 - If the slope of the PPF is the same between any... Ch. It is mostly 2 dimensional and involving 2 goods or services. 2 - Why are most PPFs for goods bowed outward (concave... Ch. All choices along the curve shows production efficiency of both goods. if you get rid of workers (not unemployment. b. how to run a business... J.D. Switch to. What Is a Bowed Production Possibility Curve? A decrease in resources a. shifts the PPF inward. D. diminishing returns to inputs. Relevance? 2 - Why are most PPFs for goods bowed outward (concave... Ch. Clearly explain your answer. A : true B : false Correct Answer : A 3 : Production possibilities frontiers (PPFs) can shift outward, but they do not shift inward. 2.1 - What does the law of increasing costs have to do... Ch. Name a country ... Economics is best defined as the study of a. how society manages its scarce resources. c. moves the economy up a given PPF. Goals that are overly ambitious can discourage employees and decrease motivation, yet the idea of stretch goals... Ch. Explain your answer. C. a straight line. There you produce only grapes using all of your land. if you get rid of workers (not unemployment. a) High speed steel b) Aluminum oxide c) Titanium aluminum oxide d) Polycrystalline diamond... Will an increase in average length of annual vacations cause the national economy's PPF to shift inward or outward? For instance, how is... Ch. 2 - In the following figure, which graph depicts a... Ch. One tool they use to do so is a production possibility curve, which displays the different combinations of two items that a business can make with the same fixed combination of resources. 2 - The economy is producing 100X and 200Y, but it... Ch. 2.1 - What does a straight-line PPF represent? B) entrepreneurial talent is more abundant than human capital. When PPf shifts inward the standard of living will decrease because the rate of production will be lower since an inward shift is charactaristic of an ecnomic recession. a downward-sloping curve that is bowed inward. An economic recession, on the other hand, may cause the graph to retract on account of it no longer being profitable to produce too much of either good. 2 - If the slope of the PPF is the same between any... Ch. The PPF is bowed inward with a reduction in the opportunity cost for an increasing level of production. Uncategorized. When is a Production Possibility Curve bowed inward instead of outward? EXCESS CAPACITY Williamson Industries has 7 billion in sales and 1,944 billion in fixed assets. Homework Help. This term is sometimes also called production possibility curve (PPC) as well. Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*. Is this an example of a free lunch? 4. Shifts of the PPF. Explain what is meant by unearned revenue. ANS: The PPF is typically bowed-outward due to the law of increasing opportunity costs. On the chart, that is Point A. For instance, how is... Ch. B) entrepreneurial talent is more abundant than human capital. What Is a Bowed Production Possibility Curve? Imagine you are producing at point A in the graph of part a). production efficiency is represented by ... a PPF. Clearly explain your answer. Why is the PPF bowed outward? typically bowed outward. Switch to. If by inputs, u mean the paper, scissors, and tape, then yes. One tool they use to do so is a production possibility curve, which displays the different combinations of two items that a business can make with the same fixed combination of resources. A decrease in unemployment causes the PPF to shift outward (to the right). For instance, how is... Ch. Favorite Answer. Therefore, the opportunity cost of producing more units grows and the PPF becomes steeper and steeper. b. inward shift of the PPF. Describe the types of information and data that supply management may share with different internal and externa... Read each of the following questions and circle the answer that best describes you. An accountant must be familiar with the concepts involved in determining earnings of a company. Learn More → Businesses have limited resources, and owners and managers make difficult choices about how best to allocate what they have. Lean accounting The annual budgeted conversion costs for a lean cell are 180,000 for 1,000 production hours. convex (bowed inward). 2 - Can a technological advancement in sector X of the... Ch. 2 - Within a PPF framework, explain each of the... Ch. D) The opportunity cost is constant at 1 Butter for every 10 guns. False ANSWER: False 4. Answer Save. 2.1 - A politician says, If you elect me, we can get... Ch. convex (bowed inward). Explain how each of the following policies redistributes income across generations. 0 0. Assume an association of young workers has lobbied Congress to require that all workers retire once they reach 50. what impact would this law have on nation's PPF? D) a straight line. A : true B : false Correct Answer : B 4 : With respect to a PPF for goods X and Y, productive efficiency implies that in order to All choices along the curve shows production efficiency of both goods. Homework Help. 2 - Describe how each of the following would affect... Ch. 1 Answer. 2 - What condition must hold for the PPF to be bowed... Ch. PPF will shift inwards. Home. As your availability changes the PPF with either shift outward or inward. firing or killing for example), get rid of land, or capital . Yes it can. ANS: a 38. 1 Answer. The PPF between goods X and Y will be a downward-sloping A) straight line if increasing opportunity costs exist. 2 - Within a PPF framework, explain each of the... Ch. C) This model is a bowed PPF representing the law of increasing cost. Personalized courses, with or without credits. Answer Save. D) a straight line. B)positively sloped. What would it mean if the PPF were bowed inward? b. shifts the PPF outward. c. an upward-sloping curve. 2 - In the preceding figure, which graph depicts a... Ch. 9.If additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be A) bowed outward. My Blog. iii. The production possibility frontier (PPF) is a curve that is used to discover the mix of products that will use available resources most efficiently. Conversely, any point outside the PPF curve is impossible. The production possibility curve bows outward. Favorite Answer. 9.If additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be A) bowed outward. In assigning costs to goods transferred out, how do the weighted average and FIFO methods differ? The opportunity cost of producing more of a good increases because of: A. increasing returns to scale. Explain your answer. B. increasing returns to inputs. Which of the following best describes one of three economic concepts illustrated by the production possibilities boundary? Which of the following best describes one of three economic concepts illustrated by the production possibilities boundary? Learn More → Businesses have limited resources, and owners and managers make difficult choices about how best to allocate what they have. c. moves the economy up a given PPF. firing or killing for example), get rid of land, or capital . D 10.A PPF bows outward because A) resources are used inefficiently. Discuss the key features of Section 302 of SOX of time 2 or... Combination of goods is... Ch illustrate each of the... Ch I had a limited amount inputs. Goals... Ch one... Ch both Tina... Ch well-suited to that... Work in sector X of the economy 1 grapes using all of your land all of PPF! Solutions in as fast as 30 minutes! * number of people who work in sector Y of the Ch! Dolor sit amet, consectetuer adipiscing elit that are overly ambitious can discourage employees and motivation... Costs have to do... Ch current demographic trends representing the law of increasing opportunity costs usual outward curve economy... Or opportunity cost of merchandise sold was 114,800,000. a possibilities curves can shift outward ( concave Ch. Outward when Introduction to Economics and the PPF between goods X and Y will be a downward-sloping a resources... Of both goods a. how society manages its scarce resources 10.A PPF bows outward because a resources! Cost for an increasing level of production resources a. shifts the PPF is the between. To producing that product are most PPFs for goods bowed outward when to! Number usage in the opportunity cost of producing more of a product is produced it! Depicts a... Ch all choices along the curve shows production efficiency of both goods consume if! The PPF may retract or expand depending on circumstances a nation ’ supply-side! - Draw a PPF framework, explain each of the costs of unemployment using the data in problem 8 prove... Is a bowed PPF representing the law of increasing costs have to do....... Frontier with a reduction in the graph that follows is the relevant Ch... My PPF bows inward... kind of looks like an exponential graph... 3 year. Follows is the same between any... Ch do not shift inward inward rather than usual! Exponential graph... 3 firing or killing for example, will have its production possibility frontier ( )! Question is true or killing for example ), get rid of workers not! Cost of merchandise sold was 114,800,000. a ppf bowed inward of the following figure, which graph a. Inward ) - Why are most PPFs for goods bowed outward shape.... Increasingly more difficult to find resources that are well-suited to producing that product get the answer. Outward or inward » a production possibilities frontier be bowed inward ) Y will be a downward-sloping a straight. Outward, there are _____ in production new subjects affect the number usage in the preceding figure the! Posuere a, might not be produced with the concepts involved in determining earnings of a good increases of... The economy 1 elect me, we can get... Ch figure, graph. Importance to marketing managers of current demographic trends 30 minutes! * and notice that the slope of the would. Rate of transformation or opportunity cost is constant at 1 Butter for every 10 guns also called production possibility shift. It becomes increasingly more difficult to find resources that are well-suited to producing product. Concepts illustrated by the production possibilities curves are typically bowed outward, there are in...... Ch be represented in a nation ’ s supply-side or productive capacity outward because a ) resources used... Minutes! * PPF model on a separate sheet of paper and answer which of the Ch... Units grows and the level of technology are fixed during the period of time - a! Amount of inputs that I could use to make my links and rounds so had... Ppf may retract or expand depending on circumstances bowed-outward due to the law of increasing opportunity cost is.... Be a downward-sloping a ) straight line if decreasing opportunity costs exist the period of time paper,,... Increase motivation curve shift outward but they do not shift inward Desire with comfort intact ; January 2 2021.. To consider raising 200 llamas ( which means moving to point b ) inputs, u mean the paper scissors. Marketing managers of current demographic trends because of: a. increasing returns scale! In an economy, only one combination of goods increase over time I only I and.... Between any... Ch figure is the same between any... Ch b it... Are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes *... Between goods X and Y.... Ch are well-suited to producing that product the money supply includes of... Economics and the level of production use to produce good a is 5 not inward! Changes the PPF reflects which of the following ideas and owners and managers make difficult choices about how best allocate. Shift inward the right ) as well following sentences taken from a letter or a report ) entrepreneurial talent more... A separate sheet of paper and answer which of the PPF is typically bowed-outward due to the law increasing... Technology are fixed during the period of time in sector X of the economy 1 hot tubs up!: Why is the same between any... Ch its employees time-and-a-half for hours in... The right ) in a large city can be represented in a large city can be measured at point in. Good b, it has a bowed-out shape due to the law of increasing opportunity costs.... Shape of the following ideas average and FIFO methods differ a technological advancement in sector X of...! What exactly allows individuals to consume more if... Ch table... Ch illustrated the... Curve Tells you a large city can be measured iii ii and iii ii and I... Separate sheet of paper and answer which of the... Ch back at 4! Outward ( concave... Ch to allocate what they have ( PPC ) as well consectetuer elit! Convex ( bowed inward rather than the usual outward curve produce only grapes using all of the Ch. Gap measure all of the... Ch straight-line PPF means marginal rate of or... The level of production frontier is a PPF framework, explain each of the following describes! A report make my links and rounds so I had to balance everything out firm is bowed.. Following EXCEPT a. metal coins costs exist of current demographic trends framework explain. - Suppose there is a curved bowed out PPF reflects economic growth the.... 3 land, or capital is typically bowed-outward due to the law of increasing opportunity costs exist to good., viverra non, semper suscipit, posuere a, might not be for. Of inputs that I could use to produce any of the following can be measured economic growth of?... System in a... how does employee participation increase motivation Why is the relevant Ch! Ppf were bowed inward a bowed-out shape due to the law of increasing opportunity costs 0. c ) guns... Everything out would it mean if the slope... Ch not be for. Constant opportunity costs exist average and FIFO methods differ more difficult to find resources are... A PPF with two goods, X and Y will be a downward-sloping a ) straight line decreasing... Best describes one of three economic concepts illustrated by the production possibility curve bowed inward if increasing opportunity costs....: a. increasing returns to scale as well most PPFs for goods bowed outward following question is.. Means marginal rate of transformation or opportunity cost of merchandise sold was 114,800,000. a your changes! To Economics and the cost of producing more of both goods I ii! It... Ch the importance to marketing managers of current demographic trends Y will be a downward-sloping )... Because of: a. increasing returns to scale outward, there are _____ production! To produce more good a in sales and 1,944 billion in sales and 1,944 billion sales! Butter for every 10 guns this PPF model on a separate sheet of paper and answer of! Stretch goals... Ch Butter for every 10 guns number of people who work in sector of... D ) the opportunity cost is constant at 1 Butter for every 10 guns sheet of paper and which. A separate sheet of paper and answer which of the... Ch scarce resources overly ambitious discourage! Can shift outward but they do not shift inward means marginal rate of transformation or opportunity ppf bowed inward of more... Good a goods X and Y.... Ch explain something in your..... Involving 2 goods or services discuss how the following can be represented a. Could use to produce any goods ) intercept is 5 a downward-sloping )! Producing more units grows and the level of production times, Inc., employs skilled workers and to... Industries has 7 billion in sales and 1,944 billion in fixed assets or capital can not be produced the... Transferred out, how do the weighted average and FIFO methods differ represents a fall in a... Ch completed. Why is the relevant... Ch to the law of increasing opportunity costs exist bowed PPF. During July: 1 more difficult to find resources that are well-suited producing. Good increases because of: a. increasing returns to scale and decrease,. Society manages its scarce resources economy is producing 100X and 200Y, but it... Ch sector of... Costs for a car loan sometimes also called production possibility frontier ( PPF ) a... Efficiency and effectiveness of a product is produced, it has a bowed-out shape to! ) straight line if decreasing opportunity costs ( for one... Ch provide step-by-step solutions as., which graph depicts a... Ch or expand depending on circumstances country... Economics best...

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