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in relations to the production possoblities frontier, ineffiecency occure when
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- a point inside a societys production possibilties curve represents? a. an output combination that satisfies the needs of the population b. an unattainable combination of outputs c. an underutilization of productive resources d. a technically superior output combinationIn market economies, fifi rms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the difference?Give one example of external economics of scale?
- Discuss in detail the production possibility curve by linking that to the concept of pareto,productive and allocative efficiency /inefficiency (with the use of well labelled graph)We often work with production technologies that give rise to initially increasing marginal product of labor that eventually decreases. Are the following statements then True or False? Explain.A negative marginal product of labor necessarily implies a downward sloping production frontier at that level of labor input.Describe a constant production possibility frontier cost graph.
- What is the technological difference between straight line and strictly concave production curves? Show and explain.From a resource-based perspective: what resources are needed to develop a machine for a distance market, such as China, and where in the MNE are those to be found?Hello, i have posted this question many times in bartleby, but every time people answering this question to use ai tool like chatgpt, please dont use gpt and other ai tool. Provide me original answers with proper explanations. thank you.Question: What is the Production Possibility Frontier?Please Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave many dislikes for you and more from my friends accounts also.
- Class Activity •Choice land has 250 workers and produces only two goods, X and Y. Labouris the only factor of production, but some workers are better suited to producing X than Y (and vice versa). The Table below shows the maximum levels of output of each good possible from various levels of labout input a)Draw the production possibilities boundary on a scale diagram, with the production of X on the horizontal axis and the production of Y on the vertical axis. b)If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of Xthe production fuction shows the volume of output that can produced from given inputs true falseProduction inefficiency occurs when production ____. is at any attainable point is at a point on the production possibilities frontier is at a point beyond the production possibilities frontier is at a point inside the production possibilities frontier
