Answer:
They will be able to consume at a point outside their production possibilities frontier.
Explanation:
The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
Factors that cause the PPF to shift
1. changes in technology.
2. changes in available resources.
3. changes in the labour force.
A country engages in the specialisation of a good for which it has a comparative advantage in its production and purchases goods for which it has a comparative disadvantage in its production .
an advantage of specialisation is that it allows countries to consume goods for which its not efficient in its production. Thus it allows to consume unattainable goods given the resources of the country. As a result, they will be able to consume at a point outside their production possibilities frontier.
Answer:
communication costs
Explanation:
Communication is critical for the success of a business. If the communication cost is high, then communication can become a hindrance to the success of business success. The costs associated with communication include fixed telephone, mobile phones cost, and internet access. Travel and venue cost that facilitates face-face meeting also adds to communication costs.
Businesses are embracing modern technology to cut down on their communication cost. Technology has increased the flow of internal and external communication. Magnet Dot is likely to grow as a business as customers can order for products over the internet.
Answer:
f(x) = -1.25x + 64 I hope this helps :)
Explanation:
total amount of money: $80
He spent $16 for the entrance of the fair and food.
80-(4+12) = 64
After that you subtract $1.25 per ride = -1.25x
Then it gives the function:
f(x) = -1.25x + 64
Answer:
Yes.
Explanation:
Given that,
Price of low-quality apples = $1 per pound
Price of high-quality apples = $4 per pound
Marginal utility of low-quality apples = 3 utils
Marginal utility of high-quality apples = 12 utils
Equimarginal:
(Marginal utility of low quality apples ÷ Price per apple) = (Marginal utility of high quality apples ÷ Price per apples)
(3 utils ÷ $1) = (12 utils ÷ $4)
3 = 3
Yes, Timmy is maximizing his utility as his equimarginal utility is same for both the goods as shown above.
