Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

"An increase in productivity with respect to any one good increases our options for producing and consuming all other goods." Which of the following best describes the meaning of that statement?

1)An increase in output per hour for any one good increases the output per hour of all other goods.

2)Production possibilities curves are always downward sloping.

3)An increase in output per hour for any one good frees up resources that can be devoted to the production of other goods.

4)Technical improvements that increase the production of one good can almost always be used to increase the production of the other good (shown as a parallel outward shift).

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946450

Have any Question? 


Related Questions in Microeconomics

Httpswwwyoutubecomwatchvkgsiduyw7wwhat was the promise of

https://www.youtube.com/watch?v=KGSID_Uyw7w What was the promise of capitalism? Discuss the important milestones and historical developments in economic theory and specify the contributions of each of the profits.

Short-run economic fluctuationscreate a 3 -slide microsoft

Short-Run Economic Fluctuations Create a 3 -slide Microsoft PowerPoint presentation that will be presented to the organization's Executive Committee. The presentation should cover the following items: • Identify the thre ...

Topic 1 costs and economies of scaleyou have learned a good

Topic 1: Costs and Economies of Scale You have learned a good deal about production costs and profit in this unit. You have also learned that accountants and economists calculate profit differently. Moreover, many suppli ...

Assignmentuse the globaledge website to complete the

Assignment Use the globalEDGE website to complete the following exercises: • The World Trade Organization maintains a database of regional trade agreements. You can search this database to identify all agreements that a ...

Problem assignmentmicrosoft word - sio 20 problem

Problem Assignment Microsoft Word - SIO 20 Problem Assignment 4_2016.docx 1. Describe the life-cycle of a frontal cyclone (also called "wave cyclone" or "midlatitude cyclone"). Draw a diagram if that helps. 2. Describe t ...

Recall from lecture the two facts we discussed one no

Recall from lecture the two facts" we discussed: One, no product exists at a vacuum; and two relationships among products change over time. Recall the background factors of demand: consumer preferences/ Wants; consumer i ...

Assignmentbulllaw of bailment1borrow your friends car and

Assignment • Law of bailment. 1.Borrow your friend's car and scratch the car against the wall. What's your duty that you must be responsible for? 2. If you rented from car rental agency, what would be your duty and where ...

Suppose the consumerworker values two things a consumption

Suppose the consumer/worker values two things: a consumption good C and leisure L. Suppose that there are 24 hours in a day and the consumer/worker has a utility function U (C, L) = C^0.5 + L ^0.5 The price of consumptio ...

Assignmentbusinesses use information from the external

Assignment Businesses use information from the external environment to make decisions all the time. As consumers, we notice these changes but don't recognize the reasoning behind the choices. For this assignment, you wil ...

Success and failurethink about the causes of success and

Success and Failure Think about the causes of success and failure for particular movements. What causes some to become widely appealing and have major impacts on change? What causes others (regardless of the validity of ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate