All categories

3 years ago

What are the implications of this idea for the shape of the production possibilities frontier?

Business

1 answer:

Grace [21]3 years ago

5 0

Answer:B. The production possibilities frontier will be bowed outwards

Explanation: Production possibility frontier (PPF) is a term used in economics to show how possible it is to combine the production of different products puting the availability of resources, technologies, and other factors which can affect it.

Production possibility frontier is used mainly by Economist to show the impact of different concepts like SCARCITY, OPPORTUNITY COSTS,etc

Once the production of a given goods leads to the reduction in production of another,the PPF will be bowed outwards.

You might be interested in

At the beginning of the year, Monroe Company estimates annual overhead costs to be $2400000 and that 300000 machine hours will b

Neko [114]

Answer:

Allocated MOH= $252,000

Explanation:

Giving the following information:

Estimated overhead= 240,000

Estimated machine hours= 300,000

Actual machine hours for the year were 315000 hours.

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 240,000/300,000= $0.8 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 0.8*315,000= $252,000

3 0

3 years ago

Why does minimum wage exist?

exis [7]

If minimum wage didn't exist, then there would be nothing stopping companies from paying there workers basically nothing. They could grossly underpay all workers and not get in trouble for it.

7 0

3 years ago

Read 2 more answers

An example of an explecit cost of production would be

Pavel [41]

An example would be
The Cost of flour for a baker

3 0

3 years ago

Read 2 more answers

Promoting a climate of civility within the hospitality organization is something the leader should attempt to do always

Alexandra [31]

I’m saying false but not really sure

4 0

2 years ago

Read 2 more answers

Sophia is an undergraduate intern at her Senator's office in Washington, DC. She loves her job, as it

Softa [21]

Sophia should advise her senator to consider all aspects of patents and the economic impact on producers and consumers, to benefit everyone equally.

According to the information found by Sophia, the senator must take into account the most important information for the meeting with representatives of the pharmaceutical industry. For example, she must take into account that currently pharmaceutical companies already have a long reservation of their patents of maximum of 25 years in which they recover the money invested and earn billions of dollars.

However, this is not enough because pharmaceutical companies also lose about 1.3 billion on some drugs. After all, only 2 out of 10 drugs put on the market are profitable.

According to the foregoing, it would be fair for pharmaceutical companies to extend the term of exclusivity of patents because this time would bring them greater profits that would balance the great possibilities of loss that they have with other research and with drugs that go on the market.

Learn more about patent in: brainly.com/question/13896945

7 0

3 years ago

What are the implications of this idea for the shape of the production possibilities​ frontier?

What are the implications of this idea for the shape of the production possibilities frontier?