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What else can I help you with?
A country that must reduce current consumption to increase future consumption possibilities?
must be producing along the production possibilities curve.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the outward curve of the production possibilities curve good or bad?
it really good
Income consumption curve?
income consumption curve is the collection of points of the consumer's equilibrium resulting from varying income.....
What is price consumption curve?
price consumption curve :this indicates the income of the consumer being given,how the demand of a good will be effected with change in its price.it means that both price consumption curve and demand curve indicate different quantities of a good demanded by the consumer at different prices.
A country that must reduce current consumption to increase future consumption possibilities?
must be producing along the production possibilities curve.
Income consumption curve?
income consumption curve is the collection of points of the consumer's equilibrium resulting from varying income.....
Is the outward curve of the production possibilities curve good or bad?
it really good
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the United States on the production possibilities curve?
no
What is price consumption curve?
price consumption curve :this indicates the income of the consumer being given,how the demand of a good will be effected with change in its price.it means that both price consumption curve and demand curve indicate different quantities of a good demanded by the consumer at different prices.
Is the production possibilities curve convex to the origin?
yes
How can price consumption curve be used to hep determine the individual demand curve?
The price-consumption curve explains how changes in the cost of a good, relative to another good, also effects an individuals consumption choices. The individual demand curve takes a single good and explains the relationship between the cost of that good, and the quantity demanded. Therefore shifts in the indifference curves (PCC) based on consumption possibilities, should correlate to the shifts in the demand curves. The easiest way to look at it, is that that your horizontal axis points on both your budget line, and your individual demand curve, should be the same. Your Vertical axises will differ because they are measuring different costs, ie, monetary cost (Demand Curve) and oppurtunity cost (budget line/constraint).
A point that lies outside a country's production possibilities curve mean what?
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
Differentiate between price consumption and income consumption curve?
the main difference in these is this that when price of any of commodity (x,y) decrees but the budget remain same it will show price consumption curve and when income increase and the price of commodities (x,y) remain same it will show the Income consumption curve.
Explain the link between income consumption curve and Engel curve?
Its the same I think :)
May life throw you a pleasant curve definition?
May life throw you a pleasant curve definition?
