production possibility frontier? 3. What is the opportunity cost of increasing the annual output of corn from 800 to 1000 pounds? 4. What is the opportunity cost of increasing the annual output of corn from 200 to 400 pounds? 5. Can you explain why the answers to parts 3. and 4. above are not the same? What does this imply about the slope of the production possibility frontier? --------------------- References: Grading Rubric Microeconomics: Unit 2 Assignment: PPF and Opportunity
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Fundamentals of Microeconomics In the world today product and services are both key to the survival of mankind. Depending on the demand from consumers‚ companies will see an increase or decrease of the items they produce or the service rendered. In the article of trends in US gasoline and ethanol use and petroleum production and imports these items will be looked at; as well as a discussion of the fundamentals of microeconomics. First‚ in order to understand what the fundamentals of microeconomics are
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must meet two basic concepts of economics these are Microeconomics and Macroeconomics and to get to know these concepts is necessary to know which is the economy and economics is the science that studies human behavior and trade ‚ sales tax‚ receipt of wages‚ credit‚ is the science of the usual business of the above are some definitions that can be found in the economy as such. In this research we can differentiate macroeconomics microeconomics its relationship to the economy to serve both‚ we can
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Input Control Jamie Robinson Professor Mohammed CIS 210 August 11‚ 2012 Input Control Input controls are fail safes that ensure that data is entered correctly‚ completely‚ and securely‚ in order to complete forms. As a systems analyst‚ one must focus on input control in every step of input design. There are many types of input control that can be implemented during the design process; all of which have a function necessary to maintain the integrity of the transaction. To list all of the
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cost (or marginal rate of transformation)‚ productive efficiency‚ allocative efficiency‚ and economies of scale. In addition‚ an outward shift of the PPF results from growth of the availability of inputs such as physical capital or labour‚ or technological progress in our knowledge of how to transform inputs into outputs. Such a shift allows economic growth of an economy already operating at its full productivity (on the PPF)‚ which means that more of both outputs can be produced during the specified
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retail bank overcomes the limitations of thirty-year-old "legacy" microeconomics systems to launch a high-tech operation that offers its customers a complete range of banking services over the telephone. Another bank is able to roll out‚ within three months of an acquisition‚ information systems that deliver the same level of service to all customers at all branches‚ new and old. (Richard 2002‚ 177) For these companies‚ Microeconomics has genuinely become an enabler of change that boosts competitive
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INPUT DEVICES 1. Where does the name QWERTY keyboard come from ? The name QWERTY comes from the first six letters on the top row of the alphabet keys. 2. Why do think the QWERTY keyboard is the most popular method of data entry? The QWERTY keyboard is the most popular method of entering data because an easy way of usage and when you get used to it you start typing faster 3. Who might make use of a concept keyboard? A concept keyboard might be used by a fast food restaurant
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INPUT AND INTERACTION For this purpose we will borrow Ellis’ definition of input as "target language samples to which the learner is exposed. It contains the raw data which the learner has to work on in the process of interlanguage construction. We will understand interaction as "the process of interpersonal communication” 2. Input and learning The role of input comprehension has been of prime importance in second language acquisition (SLA) research and theory‚ especially during the past two
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downward-sloping production function. b. a downward-sloping long-run supply curve (LRAS). c. the CPI index price level equals the equilibrium wage rate. d. the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equals long-run aggregate supply (LRAS). ____ 2. Which of the following would cause a decrease in the short-run aggregate supply curve (SRAS)? a. An increase in oil prices. b. An advance in technology. c. An increase in the CPI. d. An increase in the long-run aggregate
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up a monopoly in order to create a competitive industry? A monopoly exists when one single firm is the only producer of a commodity in the market‚ allowing them to set prices as they wish and maximise profits due to the high barriers to entry. In this case‚ the firm is given the ability to exploit their consumers in terms of price discrimination based on price elasticity. In this essay‚ I will be discussing whether it is wholly reasonable for a monopoly to operate‚ or whether there is a need for the
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