Possibilities curve

Related BrainMass Solutions

• Automobiles vs Forklifts: Production Possibility Comparison

  Is production at a point outside the production possibilities curve currently possible? Could a future advance in technology allow production beyond the current production possibilities curve?

• Production Possibilities Curve

  165692 Drawing and Describing a Production Possibilities Curve Draw a production Possibilities Curve and label and describe points within the curve, outside the curve, and on the curve.

• Production possibilities frontier

  Is it operating on its production possibilities curve? If not, what facts might account for this? No, it is not operating on the curve.

• Technological improvements will

  156500 Technological improvements will Technological improvements will a. leave the production possibilities curve unchanged b. shift the production possibilities curve inward c. shift the production possibilities curve outward d. necessarily lead

• absolute advantage

  Does this curve lie above the production possibilities curve? d. If the maximum number of case of wine that can be produced per year in Germany is 2 million, draw the German production possibilities curve in a graph. e.

• opportunity costs

  Upon what specific assumption is this possibilities curve based? If the economy is at point C, what is the cost of one more automobile and forklift? Explain how the production possibilities curve reflects the law of increasing opportunity cost.

• Fundamental economic concept of opportunity costs

  Does a reduction in trade barriers cause a country to move closer to its production possibilities curve or does it cause the production possibilities curve to shift outward?

• production possibilities curve

  This posting explains the production possibilities curve.

• Production Possibility Curve for Time

  Thanks A production possibilities curve for time is drawn in an attached Excel file.

• Positive vs Normative Statement

  Step 2 The production possibilities curve represents efficient use of all the economy's resources. The points outside the production possibilities curve are unattainable production points given current resources and technologies.