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AP Microeconomics Videos 7 videos

AP Microeconomics 1.3 Basic Economic Concepts
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AP Microeconomics 1.12 Basic Economic Concepts
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AP Microeconomics 1.6 Supply and Demand
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AP Microeconomics 1.6 Supply and Demand. What will the production possibilities curve for this economy look like?

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AP Microeconomics 1.4 Basic Economic Concepts 15 Views


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AP Microeconomics 1.4 Basic Economic Concepts. Which of the following is suggested by the slope of the production possibilities curve below?

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English Language

Transcript

00:00

Thank you We sneak And here's your shmoop du jour

00:05

Brought to you by theater candy which is way more

00:08

popular than popcorn Okay so that's probably alive But there

00:11

may be a kernel of truth in there All right

00:14

which of the following is suggested by the slope of

00:16

the production possibilities Curve shown below We got some romans

00:20

here Alright Resource not specialized Same shorts were required to

00:23

produce both caramels chocolates and three opportunity cost of producing

00:27

terminals The same His producing iraklis Alright Potential answers All

00:30

right Bunch of roman numerals We got snickers Meth heads

00:33

in the line Okay people focus right here Angle forty

00:38

five degrees and over here Angle forty five degrees This

00:43

equals that everything is the same move left or right

00:48

Production possibility allocations remain equal If they're all the same

00:52

then re sources are of equal scarcity knots New gets

00:56

cocoa beans sugar ground up back For they're all the

00:59

same Equal tradeoffs for both the duds and the snickers

01:03

So roman numeral one is a yes And that knocks

01:06

out b and d roman numeral two almost restates the

01:10

definition We just went over for this fine forty five

01:13

degree boring triangle without knowing specifically the amount of caramels

01:16

and chocolates that go into each candy we can assume

01:19

that the ingredients are of equal trade off And if

01:22

two is true well kind of points along chocolatey finger

01:26

at roman numeral three there is no opportunity cost difference

01:30

among either candy If there was the line wouldn't be

01:32

a forty five degrees That is if we chose to

01:35

produce duds which consumed a ton of sugar for example

01:39

so much that we couldn't produce any more snickers then

01:42

we'd have to make a resource allocation trade off among

01:44

the two choices we have for production but that's not

01:47

the case here So the answer is e roman numerals

01:50

one two and three and ingredient not found in either

01:53

of these candies So yeah enjoy your next knickers bar

01:57

Just remember to eat around the bat for contrary to

02:00

what your big brother told you ingesting it won't give 00:02:03.068 --> [endTime] you night vision Yeah

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