give 1 of the following statements that is NOT true regarding the production function and the production possibilities curve? a. Both the production fuunction and the production possibilities curve maximise the amount of output attainable. b. The production function describes the capacity of a single firm, whereas the production possibilities summarises the output capacity of the entire economy. c. A production function tells us the maximum amount of output attainable from the use of all resources. d. The production possibilities curve expresses the ability to produce various combinations of goods given the use of all resources

Q: Draw a production possibilities model with 4 points labelled A, B, C, D, one inside, two on, and one…

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

Q: The diagram below shows a country’s production possibilities curve. Two outputs are possible,…

A: Here, the given graph shows the production possibilities curve with two goods, capital good and…

Q: Carefully explain the concept of the Production Possibilities Curve (Frontier). How does the…

A: An economy can produce a variety of combinations of products using the resources. In a two good…

Q: Question is attached below

A: a.When the economy faces double digit unemployment, it means that the economy is experiencing a very…

Q: 4. Using the Production Possibilities Curve below answer questions a, b and c 50 48 40 Consumption…

A: With the same resource we can produce a lot of different goods. This is because the resources are…

Q: The only way that a society can produce outside the production possibilities curve is Question 9…

A: Production possibilities frontiers are used to represent the trade-off that occurs between the…

Q: What is the production possibilities curve? Explain the concepts of efficiency and inefficiency in…

A: (Q) What is the production possibilities curve? Definition: Production Possibility Curve (PPF) The…

Q: The production possibilities curve represents the maximum combination of goos and services that can…

A: In business analysis, the production possibility curve (PPC)  represents the possible quantities…

Q: Fill in the blanks using the number that correspond to the correct word or phrase in the word bank…

A: We know that in this world resource is limited, and economics is all about the study and allocation…

Q: What does a Production Possibilities Curve depict? What is the Law of Demand? What components will…

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

Q: Discuss the basic economic problem of scarcity. Be sure to include a definition of the term, how it…

A: Basic Economic problem of Scarcity: One of the most fundamental economic issues we experience is…

Q: B PP PP PP Consumer Goods Refer to the diagram. An improvement in technology will Multiple Choice…

A: The graph shows production possibility curve that shows combinations of two goods that can be…

Q: Below is the production possibilities table for consumer goods (maize) and  capital goods…

A: Since you have asked multiple subparts, we would answering the first three for you. To get the…

Q: Which of the following statements is NOT true regarding the production function and the production…

A: THESE OPTIONS ARE WRONG  B)  The production possibilities frontier (PPF) is a financial model used…

Q: Q.1.1 What is the cause of scarcity in the economy? (a) Limited wants and unlimited resources. (b)…

A: Note:  We’ll answer the first three questions since the exact one wasn’t specified. Please submit a…

Q: production possibilities table for two products, Consumption goods and Capital goods, is found…

A: Dear student, you have asked multiple sub-part questions in a single post and have not mentioned…

Q: Below is a production possibilities table for consumer goods (automobiles) and capital goods…

A: The PPC for automobiles and forklifts is drawn below. It shows us various combination of these two…

Q: Consider the graph. What will happen if technological development raises the maximum amount of goods…

A: Production possibility frontier shows the combinations of two goods that can be produced with the…

Q: The production possibilities curve represents O the maximum amount of labor and capital available to…

A: A production possibility curve represents the maximum possible combinations of two goods that can be…

Q: 2. Explain how each of the following situations would affect a nation's production possibilities…

A: (Since you have a posted a question with multiple sub-parts, we will solve the first three sub-part…

Q: Economy A produces more capital goods and fewer consumers goods than economy B. Which economy will…

A: Production Possibility Frontier   It is the graphical portrayal of the production of two products in…

Q: 1.2 Which of the following is NOT a primary factor of production? a) A business owner b) A doctor c)…

A: 12) Out of the given option, business owner is not a primary factor of production. Reason:- There…

Q: Does this production possibilities curve show increasing opportunity costs? Explain

A: The curve that depicts the combination of goods that could be produced using the resources being…

Q: Graph 1: Draw a production possibilities model with 4 points labelled A, B, C, D, one inside, two…

A: Production Possibility Curve: It refers to the graphical representation of the maximum units of two…

Q: Graph 1: Draw a production possibilities model with 4 points labelled A, B, C, D, one inside, two…

A: Hi, thank you for the question. As per the guidelines, we can only answer 1 question at a time.…

Q: How would the following events be shown using a production possibilities curve for shelter and food?…

A:

Q: Explain how (if at all) each of the following events affects the location of a country’sproduction…

A: As per the honor code, we are allowed to attempt only first three sub-parts of the question. If you…

Q: 1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of…

A: Production possibility frontier is the locus of all combination production points possible of two…

Q: Graph 1: Draw a production possibilities model with 4 points labeled A, B, C, D, one inside, two on,…

A: The curve that depicts combinations of goods that could be produced while making use of the same…

Q: Exhibit 2-10 production possibilities curve data   A B C D E Capital Goods 0 1 2 3 4 Consumption…

A: When an economy is faced with the production possibility table as given in the Exhibit 2-10. As…

Q: If an unattainable point outside a production possibilities curve can become an attainable and even…

A: Consider the following graph in which point a is effecient and point b is ineffective.

Q: Explain how scarcity affects the factors of production.

A: scarcity is the point at which an asset is totally gone or is coming up short. at the point when…

Q: 1 2 F B D Consumer Goods Refer to the above diagram. A shift in the production possibilities curve…

A: Production possibility curve is the locus of different combinations of two goods that an economy can…

Q: 10. Because of scarcity, for every choice we make, there will always be opportunity costs. What does…

A: (B)

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

A: There are 3 kinds of PPC bend which are straight-line slanting down, inward and raised bend. The…

Q: The following graph shows the production

A: Answer 1. A. At point P, the economy is producing at an inefficient level since all the resources…

Q: Question 6 If opportunity costs are constant, then O the production possibilities curve does not…

A: Opportunity cost  When we produce more units of a good then we have to for go the quntity of other…

Q: The only way that a society can produce outside the production possibilities curve is Question 9…

A: Production possibilities frontiers are used to represent the trade-off that occurs between the…

Q: PP PP PP Consumer Goods Refer to the diagram. An improvement in technology will: O A. shift the…

A: PPC stands for Production Possibility Curve, which depicts the various performance combinations that…

Q: Question 11 ) Listen Suppose you have a $20 Amazon gift card with which you can buy (download) songs…

A: Ques 11 In very simple words , opportunity cost is the cost of next best alternative forgone. Given…

Q: Explain how each of the following situations would affect a nation’s production possibilities curve.…

A: The nation is in recession as a result of COVID-19. Recession is triggered when demand for goods and…