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A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
What economic concepts are represented in the production possibilities model?
My boner
Which is one of the four simplifying assumptions made in the chapter about the construction of the production possibilities model?
The economy is fully employed and is using least-cost methods of production.
How does the Harrod-Domar growth model differ from the Neo-classical growth mode?
according to harrod domar model the level of savings remain constant to the proportion of income.Harrod-Domar model assumes a simple production function y=f(k), where k is capital
Why in a production possibilities frontier model a point inside the frontier is attainable?
A PPF is the locus of points such that all the economy's resources are used to its fullest potential. A PPF is concave to the origin because of the increasing opportunity cost to produce an additional unit of x (on the horizontal axes). A point inside the PPF is attainable because (1) there may be no full employment or (2) inspite of full employment they are used to less potential. On the contrary a point outside the PPF is not attainable because the PPF itself is the locus of the maximum attainable output given resources, the PPF may however expand due to increase in resources or their efficiency.
In a production possibilities frontier model a point inside the frontier is?
Attainable.
A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
What economic concepts are represented in the production possibilities model?
My boner
Which is one of the four simplifying assumptions made in the chapter about the construction of the production possibilities model?
The economy is fully employed and is using least-cost methods of production.
What year was colt frontier scout serial number 563K made?
The Colt frontier .22 model K with that serial number was made in the first year of production, 1960 as the 2nd year, 1961, started with 3088K.
What year was colt frontier scout serial number 15766Q made?
That was the Q model and was produced in the second year of production. 1958 is the serial # 15766Q or 1576Q ????????
What are productive opportunities?
Productive Opportunities by Kayors A short answer which I hope will help: The definition of what can be produced within an economy or "productive opportunities" would depend on the advancement of technology, the availability and access to resources and also what producers and entrepreneurs can think of at the given time. If you are into economics, a simpler understanding can be derived from the Production Possibilities Frontier Model which also explain the concept of scarcity and opportunity cost. A more in-depth view may be obtained from production theory.
What are the production dates for model 547 rifle?
The Remington Model 547 is in production.
Why were t model low?
Assembly line production kept the price low and also the car was very simple and partially made from wood.
Why were model T prices low?
Assembly line production kept the price low and also the car was very simple and partially made from wood.
Colt where Model G2241 new frontier?
Made in 1977
How many years was the Ford Model T in production?
The Ford Model T was in production since 1909. It has been in production ever since that day and it still is in production now. It will not go out of production soon.
