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kherson [118]
3 years ago
5

The shape of a production possibility curve is downward-sloping because ____________________. Select the correct answer below: y

ou can get more of one good only by giving up some of another good quantities produced are always negative you cannot get any more of good, even by giving up some of another good none of the above
Business
1 answer:
Afina-wow [57]3 years ago
8 0

Answer:

you can get more of one good only by giving up some of another good

Explanation:

A production possibilities frontier shows the opportunity cost of producing one good instead of another. This way, as you follow the curve, the combination of goods will vary, increasing the production of one good but deceasing the production of the other.

Opportunity costs are the benefits lost or extra costs associated to choosing one activity or investment over another alternative. Since resources are scarce, you must always give something up in order to obtain another thing, e.g. you give up your leisure time in order to study.

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In the long run equilibrium, a monopolistic competitor will produce to the point at which A) actual average total costs are at t
Artemon [7]

Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.

Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.

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3 years ago
What is NOT a reason a new product might fail?
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Total sales revenue is $1000, total variable costs are $600 and total fixed costs are $1000. The price is $10 per unit. Compute
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Suppose you deposit $1,091.00 into an account 6.00 years from today that earns 12.00%. It will be worth $1,728.00 _____ years fr
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Answer:

It will take 10.058 years from today.

Explanation:

Giving the following information:

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Future value= $1,728

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<u>First, we need to calculate the number of years it will take to transform the PV into the FV:</u>

<u></u>

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