The bowed-outward shape of the production possibility frontier illustrates that the <u>opportunity cost</u> of one good in terms of the other depends on how much of each good the economy is producing.
<h3>What is Production Possibility Frontier?</h3>
The production possibility frontier (PPF) is a curve in economics that depicts the maximum amounts that two goods can create if they both rely on the same limited resource for production.
From the attached picture below, Let's assume that:
- The vertical product is: wine
- The horizontal product is: cotton
The bowed-outward shape of the production possibility frontier illustrates that the <u>opportunity cost</u> of one good in terms of the other depends on how much of each good the economy is producing.
Learn more about the production possibility frontier (PPF) here:
brainly.com/question/25071524
Answer:
There are 52 dollars increase on marginal cost when production rises
There are 58000 dollars increase on total cost when production rises
Explanation:
Please find attached word file with the calculations.
Answer:
The correct answer is letter "C": alpha.
Explanation:
In statistics, while talking about probabilities, an Error Type I or Alpha (α) Error takes place when a null hypothesis is rejected but these results to be true. In other words, the error happens when it is believed that the process is out of control when it really is under control. The probability of making an error Type I is α, which is the value a researcher gives for his hypothesis.
Answer:
Municipals must offer at least 6.30% yields.
Explanation:
Corporate bonds is a term used to describe a type of debt applied to securities that are issued by companies that wish to acquire funds to establish their investments and activities.
These resources can be acquired differently, but as these companies influence the local market with their activity, it is common for them to offer some after-tax income on corporate bonds.
In the case of the question above, this income is calculated as follows:
The after-tax yeld on the corporate bonds is: 0.095*(1-30) = 0.0630 = 6.30%
Answer: The income effect
Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.
In the given case, Natalie was price conscious and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.
Hence from the above we can conclude that the correct option is A.