Please explain the roles of Production Possibility Curve in any economic system applied by any countries? And Do you agree that the economic growth shifts the PPC outward and makes it possible to have more of all commodities. It means economy ofa country in growing up faster? If Yes or Not, please provide your reasons as widely as possible? PLEASE GIVE DETAIL EXPLANATION
Q: Use the Lagrange multiplier method to optimize the objective function xy subject to the constraint…
A: Utility is maximized where slope of indifference curve equals slope of budget constraint. Lagrange…
Q: Boom (50%) Recession (50%) -$ 10 Project A $ 20 $ 20 -$ 30 -$ 10 $ 30 $ 50 D. $ 50 hanager adopted…
A: Mean=Total observationNo. of observations The following formula is used to calculate the Variance…
Q: A monopolist earns $60 million annually and will maintain that level of profit indefinitely,…
A: Given data;
Q: Which of the following are non-rival? a) A particular blu-ray disc of a Batman movie b) The…
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: Under “normal” economic circumstances, the main instrument of monetary policy at central banks…
A: Monetary policy is the policy of the central bank of a country which monitors the money supply in…
Q: .3 A utility function is given by the equation U = 120 x0.7 y0.3 where x is the number of hours…
A:
Q: Problem 4. Answer the following questions a) Describe the Lucas critique.
A: since you have asked multiple questions and according to policy we can solve only 1 question and for…
Q: Consider a market for used computer printers, where buyers value good ones at $1,000 and bad ones at…
A: We have cost of warranties $20 for good quality and $45 for bad quality.
Q: The law of demand implies that, other things remaining the same, A) as the price of a…
A: The law of demand states that the amount wanted is always inversely proportionate to the price of…
Q: The inverse labour demand curve of a monopsonist employer is W= 37,500 – 80L, where W is the annual…
A: Monopsonist employ the labor where ME = labor demand
Q: In a closed economy Keynesian Cross framework, show how a decline in investment will lead to a fall…
A: A closed economy is one that doesn't trade with other countries. As a result, the closed economy is…
Q: Comprehensively state the criteria and process of selecting appropriate models for time series…
A: Time series forecasting is used when making scientific forecasts based on historical time stamped…
Q: $20 $18 $10 $15 $5 D. D O 80 100 Quantity of Labor (millions) O 150 170 Quantity of Labor (millions)…
A: Initially, In the country A: 100 workers were working at a wage rate of $5 per hour. So, the total…
Q: Analyze gasoline price hike statistics in the following scenario. In June 2008, the U.S. retail gas…
A: * SOLUTION :- From the given information the calculation is given below.
Q: What do you understand by discriminatory monopoly? Bring out the conditions that enables the…
A: Market refers to the place where the goods and services are brought and sold at the common place in…
Q: Inputs of a MP Inputs of b 25 40 20 36 3. 15 32 4. 10 24 20 16 7. The table gives marginal product…
A: We have two inputs a and b with respect prices $5 and $8. $MP= MP/price.
Q: What is the purpose of a retirement plan and why does the government provide tax benefits to…
A: The objective of a retirement plan is to provide financial stability so that people can retire from…
Q: Explain the difference between market equilibrium and market disequilibrium
A: Market equilibrium Market equilibrium refers to a situation when the market demand is equal to…
Q: Please refer to the description of a tax on a market, represented by the graphic Consumer surplus…
A: Consumer surplus is that area which are lies below the demand curve and above the price level.
Q: What do you think would happen to a country's economy if there is too much imported goods?
A: International trade is the sale and purchase of commodities and services between countries…
Q: Based on this graph, o What is price elasticity of demand at point A? o What is price elasticity…
A: Point Elasticity = Lower Segment/Upper Segment
Q: Which game form is best suited to games with simultaneous decisions about strategy? Extensive Form…
A: Simultaneous decision-making requires choosing actions without having any knowledge of the action…
Q: In this section, the context is a large negative shock to autonomous consumption in an open economy.…
A: The aggregate supply refers to the entire amount of services and commodities that enterprises in an…
Q: Country A has a natural climate that is perfect for growing strawberries - long sunny seasons and…
A: Absolute advantage refers to an actor's capacity to create more of a product or service than a…
Q: 1. Consider the following one-period model with a representative consumer, a representative firm and…
A: Given information one period consumption model There are representative in the market Consumer, firm…
Q: nsidering putting on a special one-time screening of a new movie. This screening sa fixed cost of…
A: Price Discrimination is a procedure that organizations use to boost income by charging clients…
Q: s. Discuss how organizations can promote an ethical climate.
A: Business executives are increasingly concerned about ethics, yet they are having difficulty…
Q: Suppose one-year German Treasury bill pays 4.13% and one-year Canadian Treasury bill pays 2.33%. The…
A: Answer is given below
Q: First, “With production of many new-vehicle lines being slowed or halted by the current microchip…
A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…
Q: В.1. a) A profit-maximising firm faces a downward-sloping demand curve for its output and has…
A: To make the most money, a corporation must function in a condition where marginal income and…
Q: arti : Suppose the firm's labor demand curve is given by: w = 60 – 0.03E vhere w is the hourly wage…
A: The demand curve for labor shows the quantity of labor employers wish to hire at any given salary or…
Q: 8. Economic fluctuations I The following graph shows the economy in long-run equilibrium at the…
A: Aggregate demand is a sum of consumption spending, investment spending, government purchases and net…
Q: Identify two causes, apart from an increase in income, of an increase in demand for a product.
A: Demand for a product implies the desire of people to have a good supported by the willingness and…
Q: Georgia Ceramic Company has an automatic glaze sprayer that has been used for the past 10 years. The…
A: Given: Interest rate (i)=12% Number of years(n)= 10
Q: 1. In the sequential games such as the sequential Battle of the Sexes, why does the Nash equilibrium…
A: Since you have asked multiple questions, we would be answering the first one for you. In order to…
Q: Two fish farmers are deciding how many fish to raise in a public access lake. The problem is that…
A: Benefit refers to the utility that a consumer derives from the consumption of an alternative. It is…
Q: QUESTION 4 Consider the following two figures. Japanese Yen per 1 US Dollar Graph Danish Krone per 1…
A: A fixed exchange rate is one in which the government sets the rate; on the other hand, a flexible…
Q: Risk-neutral Icarus Airlines must commit now to leasing 1, 2, or 3 new airplanes. It knows with…
A: Profit is the difference of the total cost and the total revenue of a production. It is the motive…
Q: we at a rate of 0.95%. Second, it could borrow money from other banks at a rate of 0.55%. l funds…
A: Federal fund rate is the rate at which a bank borrows from other bank on overnight basis whereas…
Q: How does a change in price affect the demand and supply of a product?
A: Price of the good refers to the number of units of money which the consumers have to pay to get the…
Q: Kara receives a promotion at work, which increases her income. We would expect Kara's demand for…
A: The curve that depicts various quantities of goods and services being demanded at different price…
Q: John is deciding whether to exert effort (e = 1) to avoid an accident at work or not exert any…
A: Given information Utility of money=I0.5 Total utility=I0.5-c(e) e=1 when exert effort at work and…
Q: Angela's reservation indifference curve, IC, After the new law Bruno 12 gets rent EF Can Angela be…
A: * ANSWER :- From the given information the answer is provided as follows ,
Q: Air conditioning installers value good ACs at $4,100 and bad ones at $3,400, while buyers value good…
A: Before selling any product in the market, the producers or retailers are obligated morally and…
Q: Are Covid-19 rapid antigen tests a Monopoly, oligopoly or a perfectly competitive market
A: When the corona was first introduced, the government was the only one who conducted this test.
Q: A wildfire burns most of the production of almonds in California. Explain in words and show on a…
A: Law of demand states that other things being constant, with the increase in the price of good or…
Q: Should economists be in favour of globalisation? Discuss with respect to at least three of the…
A: Globalization is the movement of goods, technology, information, and jobs across national borders…
Q: Explain two causes of a shift in a PPC.
A: Production Possibility Curve:- The PPC can be explained as a graphical representation which depicts…
Q: A firm faces the production function Q = 2K02L06 and can buy L at £240 a %3D unit and K at £4 a…
A: Cost is minimized at the input mix where marginal rate of technical substitution is equal to price…
Q: QUESTION 9 A trade deficit must be equivalent to domestic investment minus domestic savings. True O…
A: The balance of trade of a country is known as the difference between the value of the country's…
Please explain the roles of Production Possibility Curve in any economic system applied by any countries? And Do you agree that the
Step by step
Solved in 3 steps with 2 images
- “In what way does an understanding of the shifts in the PPC help businesses/countries make production decisions?” Rubric: ensure the importance of absolute and comparative advantage is made clear.Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the events describe below.Make sure to explicitly indicate what sectors you are representing, and what sort of assumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing.a) A relaxation of policies allowing more foreign direct investment into the country.b) Increasing the minimum wage level.c) A decrease in expenditure on research and development.d) An increase in the retirement age.e) Government policies supporting the provision of services, without affecting ManufacUsing a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the events describe below.Make sure to explicitly indicate what sectors you are representing, and what sort of assumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing. a) A relaxation of policies allowing more foreign direct investment into the country. b) Increasing the minimum wage level. c) A decrease in expenditure on research and development. d) An increase in the retirement age. e) Government policies supporting the provision of services, without affecting manufacturing.
- Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the following events: Make sure to explicitly indicate what sectors you are representing, and what sort of assumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing. Increasing skilled migration into the country Imposing taxes on manufacturing (hint: define a two-sector producing economy, manufacturing and services). Decreasing the expenditure on research and development Implementation of easier rules for foreign investment The effects of a pandemicIn Country T, it takes 10 resources to produce 1 ton of cocoa and 13.5 resources to produce 1 ton of rice. In Country Y, it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1 ton of rice. Country T has a comparative advantage over Country Y in cocoa. This follows the theory of comparative advantage, and we can say that engaging in free trade benefits all countries that participate in it; however, this conclusion stems from which of these inaccurate assumptions? Multiple Choice We have assumed constant returns to scale. We have assumed the prices of resources and exchange rates in the two countries are dynamic. We have assumed there are barriers to the movement of resources from the production of one good to another within the same country. We have assumed that agrarian nations do not specialize in producing particular products. We have assumed diminishing returns to specialization.Points A and B on the Combined graph represent Malaysia's and Canada's production, and the red point shows the combined production of the two countries. Which of the following is a correct interpretation of points A and B? multiple choice 1Each country is using all of its resources.Malaysia is using a higher percentage of resources than Canada.Canada is using a higher percentage of resources than Malaysia.Both countries have unused resources that could increase production without a tradeoff.
- Using a production possibilities frontier determine how does a country's PPF change in response to the events described below. Make sure to explicit what sectors are you representing and what sort of assumption each event implies (neutral effect vs a sector biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing. 1.reducing import taxes (tariffs)on primary inputs 2.increasing the expenditure on research and development 3.the introduction of greater flexibility in labour markets(new government laws enabling easier hiring of workers) 4.increasing skilled migration into a country 5.the discovery of new mineral deposits in a country.I need help in answering question 7 in part c. Part C is asking to make a PPC from both tables which I already did. Each table represents two different nations Then it is asking which nation has a compartive advantage in health care and which nation has a compartive advantage in all other goods. Then it asks which nation specializes in health care and which nation specializes in all other goods. Finally it asks what can each nation gain from tradingWho are the winners and losers of the free trade between two countries? Can free trade between the two countries make consumers of both countries better off? In answering this question, consider discussing: How are you and your household connected to the global economy? Which imported goods and services do you buy? Are your consumption patterns based on comparative advantage? How do US trade patterns, based on comparative advantage, contribute to income inequality in the US, according to the Heckscher-Ohlin model? How has trade affected international income inequality? What were some recent tariffs? Who really pays the cost of tariffs?
- Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the following events:Make sure to explicitly indicate what sectors you are representing, and what sort of assumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing. d) Implementation of easier rules for foreign investmente) The effects of a pandemicTwo workers are currently trying to produce both pens and pencils for a company named We R' Write. Worker A can produce 100 pencils per day or 50 pens. Worker B can produce 100 pencils per day or 20 pens. If the workers continue to try and produce both, how many pencils will each worker produce, and how many pens will each worker produce? What is the opportunity cost of producing pencils and for producing pens for each worker? After specialization, how many pencils will be made in total by both workers? After specialization, how many pens will be made in total by both workers? What is the difference in the total number of pencils made by both workers after specialization? What is the difference in the total number of pens made by both workers after specialization?Using a production possibilities frontier (PPF) diagram, determine how does the PPF changein response to the following events:Make sure to explicitly indicate what sectors you are representing, and what sort ofassumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latterfollows from your assumptions on the factor intensity of the sector you are representing. c) Decreasing the expenditure on research and developmentd) Implementation of easier rules for foreign investmente) The effects of a pandemic
