Purchase Solution

Possibilities Frontier

Not what you're looking for?

Ask Custom Question

I would like to draw out a Production Function showing two curves on one graph: 1) Manufacturing Goods vs. High-Tech Goods, and 2) High Tech Goods vs. Services. I think that I understand how the Possibilities Frontier graph would look for 1), but not 2). Also, I am not sure how how the composition of the Production Functions shifted and changed over the past 25 years. I appreciate receiving your explanation and graph example of both 1) and 2) on one graph. Thank you.

Purchase this Solution
Solution Summary

Possibilities Frontier is depicted.

Solution Preview

Please see the attached file.

I would like to draw out a Production Function showing two curves on one graph: 1) Manufacturing Goods vs. High-Tech Goods, and 2) High Tech Goods vs. Services. I think that I understand how the Possibilities Frontier graph would look for 1), but not 2). Also, I am not sure how the composition of the Production Functions shifted and changed over the past 25 years. I appreciate receiving your explanation and graph ...

Purchase this Solution
Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

View More Free Quizzes
Related BrainMass Solutions

  • Macroeconomic production possibilities/efficiencies

    If it is not on the production-possibilities frontier, more could be produced with the given resources and technology. Because greater production would increase value, any position below the production-possibilities frontier is inefficient.

  • Production, Costs, and Profits

    In other words an improvement in resource allocation leads to an expansion of the production possibilities frontier. Investment in production can expand production possibilities frontier.

  • production possibilities frontier

    66249 Macroeconomics: Production Possibilities Frontier 1. Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economy's cow population?

  • graph of the production possibilities frontier

    The graph below illustrates Crusoe's production-possibilities frontier (and his consumption-possibilities frontier).

  • A country's production possibilities frontier

    127700 A country's production possibilities frontier What happens to a country's production possibilities frontier if a law is passed prohibiting workers from ever working in an industry other than the one they are currently employed in.

  • Production possibilities frontier

    WWW.INDIAINFOLINE.COM This discusses the production possibilities frontier

  • Production Possibilities Frontier

    The expert analyzes the production possibilities for frontier pages.

  • Production possibilities frontier

    43429 Production possibilities frontier Construct a production possibilities frontier for a nation facing increasing opportunity costs for producing food and video games.

  • Production Possiblities Frontier

    19081 Production Possibilities frontier 7. When moving along a production possibilities frontier, the opportunity cost to society of obtaining more of one of the two goods: A) is measured in dollar terms.

  • Production Possibilities Frontier Conditions

    484923 Production Possibilities Frontier Conditions 1. Explain the connections between opportunity cost and the production possibilities frontier ? 2.

View More Related Solutions