The value of the expression decreases
Answer: Alternative optimal
Step-by-step explanation:
Alternative optimal solution means that
there are several optimal solutions that can be used to get identical objective function value.
Therefore, a scenario whereby the optimal objective function contour line coincides with one of the binding constraint lines on the boundary of the feasible region will lead to alternative optimal solution.
Answer:
15.874507866388
Step-by-step explanation:
Answer:
A. The economy switches to producing less of one product without increasing the production of the other product
Step-by-step explanation:
PPC is the graphical representation of product combinations that an economy can produce, given resources & technology. It is downward sloping because given resources & technology, production of a good can be increased by decreasing production of other good.
It is based on assumption that resources are efficiently utilised. Points on PPC show resources efficient utilisation, Points under PPC show under utilisation, Points outside PPC are beyond country's productive capacity.
If country produces less of a good without increasing production of other goods, implying wasted resources & production below PPC. This case doesn't satisfy productive efficiency
Other cases : Producing more of a good & less of other is just re allocative movement on the PPC itself. Production point at PPF intersection with either axis implies economy is producing only the good on that axis.
In all the cases except A. satisfy the 'productive efficiency'
Answer:
57
Step-by-step explanation:
