A model used to illustrate the trade-offs related to splitting resources between the production of two items is called the Production Possibilities Curve (PPC).
<h3>How do economic actors calculate costs to specialize products?</h3>
The PPC is a useful tool for demonstrating the ideas of scarcity, opportunity cost, efficiency, and economic development and contraction.
Exchange possibilities that lead to consumption opportunities outside of the PPC are the consequence of production specialization based on comparative advantage rather than an absolute advantage.
In contrast to what would have been achievable domestically, trade between two agents or countries enables the countries to enjoy a higher overall output and level of consumption.
<h3 />
PPCs can be used to decide who should specialize in a certain good as well as opportunity costs and comparative advantages.
A nation or individual will be able to consume at a point beyond its PPC through specialization and commerce, assuming the terms of trade are advantageous (for example, offering each agent a cheaper opportunity cost than could be accomplished without trade).
Check out the link below to learn more about opportunity costs;
brainly.com/question/17410093
#SPJ1
Answer:
A. 2 to 5 percent of sales
Explanation:
According to the text, management contracts usually stipulate that a fee of 2 to 5 percent of sales be paid to the firm providing the management expertise.
Answer: When a firm is in a constant-cost industry, a decrease in demand will result in economic <u>losses.</u> This will cause <u>exit from</u> the industry, resulting in <u>a decrease</u> in supply over time. This long-run adjustment eventually cause the price level to <u>decrease</u> so that it eventually <u>occur at a higher level than</u> before the demand shift. There will be firms <u>fewer</u> in the industry. The long-run industry supply curve will be <u>downward shifting.</u>
Hello,
Here is your answer:
The proper answer to this question is option B "false".
Here is how:
It is regular for a person to get a speeding ticket or break the law somehow on a daily basis.
Your answer is B.
If you need anymore help feel free to ask me!
Hope this helps!
