Using the example of the production possibility curve for pillows and blankets scarcity, inefficiency and opportunity cost are identified.
Пікірлер: 62
@Keshabz12 күн бұрын
well i am 15years old kid from india and i am very thankful to you for this informative video
@ezekielchaka52064 жыл бұрын
Your teaching is brilliant sir. Even for first timers like me this was very easy to grasp.
@letsahmillicent216516 күн бұрын
This is an assignment given to me Sine 2am I have been looking for how to go about it Here u are explaining it so perfectly well to my understanding Thank you so much sir You have really saved a soul today 🎉❤
@peterkasongomwelwa9325 Жыл бұрын
Very loud and clear explanation, I have been struggling to understand these concepts on PPF, especially how to illustrate the scarcity and opportunity cost 🙏
@yummiseximami12 жыл бұрын
Wow you are very good at explaining all this....I was struggling to understand this in my lecture class but you have made things more clear, thank you!!!
@globubb7031 Жыл бұрын
Yeah its so good. Reply to this comment if you still use yt
@michaelgorden72333 жыл бұрын
Now i understand the the points outside and inside of the curve what they represent ...thanks very much
@boydwataba71862 жыл бұрын
Brilliant explanation, this is extremely helpful. Thank you...👏
@junamaejandoc7223 жыл бұрын
This is a big help of my online learning sir! Thank you
@alinatsoy2819 Жыл бұрын
Thank you! The most helpful explanation 🙏🏻
@imfromthecity7 жыл бұрын
Awesome explanation, helped a lot!
@jyothids90714 жыл бұрын
Worth listening and understanding.. thank you sir
@tanakamuyambo58688 жыл бұрын
thank you ...this has helped a lot ! i am sure i will do well in my exam this afternoon
@wanazia48564 жыл бұрын
Clear explanation, thank you!
@chitah90022 жыл бұрын
The explanation was smooth sir.Thank you
@minniesasingh295 жыл бұрын
Many many thanks sir for this awesome video🙏🏻
@thembinkosimahemu2232 жыл бұрын
Brilliant explanation👏👏
@ephysagwati29697 жыл бұрын
woow,,best explanation ever
@nicodemuslebogang71242 жыл бұрын
Very much helpful, Thank you.👏
@assuyutytv5933Ай бұрын
you are the best
@abrahamyrn Жыл бұрын
Best explanation, this was really helpful
@sindywch8 жыл бұрын
great explanation!! :D
@gaurisalunke1038 Жыл бұрын
veryy veryyy good explaination.....really loved it a lotttt.....
@stanleygurirab856611 жыл бұрын
I am excited this has help a lot...
@azzzubb46684 жыл бұрын
Thank you so much..awesome explanation
@telidar9337 Жыл бұрын
Thanks so much. I now get the concept 😊
@markemile64043 жыл бұрын
wow very nice explanation
@nwabisasizani883611 жыл бұрын
this was helpful indeed!
@mukovheneswiswi29722 жыл бұрын
thank you, this was very enlightening
@thandohlwandile34606 жыл бұрын
igot all the information I needed ithank this app
@niamcd6604 Жыл бұрын
I am due to start biostatistics and I was wondering how this can be translated into biomedical research experiments... If you could point me in the right direction it'd be great!
@darem70342 жыл бұрын
THANK YOU!
@awanasuzanna717511 жыл бұрын
tq.... very helpful
@melishamoses624 Жыл бұрын
thanks much now i understand it
@katesithole86292 жыл бұрын
wow, thank you.
@fredjames59894 жыл бұрын
Nice work
@bambajirekla68203 жыл бұрын
Thanks so much
@sobiyeolufemi1230 Жыл бұрын
Thank you sir.
@priscillaamoako1035 Жыл бұрын
Thank You sir 😊🤝
@gracejulius232 жыл бұрын
thanks dear father
@ebenstalin4255 Жыл бұрын
Understood ❤
@nhlanhlandaba4162 ай бұрын
thank you sir
@maxwelldzirasah89993 жыл бұрын
The scores below are for Princess, a student who reads only two courses (English and Maths). This student spends a maximum of 12 hours a day studying the only study material available to her, which are her course textbooks. The accompanying table shows the best combinations of scores for the two courses. Maximum Score Options Scores for English Scores for Mathematics Opportunity Cost of Mathematics A 100 0 B 80 30 C 60 50 D 40 60 E 20 65 F 0 67.5 Required: Explain the concept described above. Copy and complete the Table. Produce a relevant sketch for the Table with Mathematics on the x-axis and English on the y-axis illustrating these options, showing points A-F. Can Princess score 80% in mathematics and 60% in English? Explain. Where would this point lie relative the figure drawn in (i) above? What is the opportunity cost of increasing the scores from 30% to 50%? What is the opportunity cost of increasing the scores from 65% to 67.5%? Can you explain why the answers to parts (v) and (vi) are not the same? What does this imply about the slope of the curve? Under what three circumstances can Princess score 60% in English and 80% in mathematics? What would it mean if Faustina scores 50% in mathematics and 50% in English? Indicate this point as M on your sketch. QUESTION TWO Empirical estimates suggest the following price elasticity of demand: 0.6 for Coca Cola; 4.0 for foreign vacation travel; and 0.2 for cigarette. Using the determinants of price elasticity of demand, explain why each of these commodities would have these coefficients elasticity. Kwarteng Ghana Ltd., is the main sales agent of Infinix phones in Ghana. The economist of this enterprise has estimated the demand function for the firm's products per week to be of the form: QI = 445 - 2.5PI - 8I + 2.5PC where; QI is the quantity demanded of Infinix phones, PI is its own-price, PC is the price of a related good (Tecno Phones) and I is income. Given that PI = 10, PC = 5 and I = 40, use the above information to: Determine the quantity demanded of Infinix phones per week and compute the own-price elasticity of demand for Infinix phones and interpret your results. Based on your answer in (i), what pricing policy would you recommend for the firm in order to maximize its total revenue Calculate the cross-price elasticity of demand between Infinix and Tecno phones, interpret your results and determine the kind of relationship that exists between the two. Compute the income elasticity of demand and determine if Infinix phones are normal goods or not. Explain your results. QUESTION THREE Indicate whether the following statements are true, not or uncertain and in each case explain your answer briefly. Note that a correct true, false or uncertain answer with a wrong explanation will not attract any marks. The price of a good rises, causing the demand for another good to rise; therefore, the two goods are complements. A shift in demand causes the price of a good to fall; therefore, the shift must have been a decrease in demand. If demand increases and supply increases at the same time, the price will clearly rise. If the price of good A falls and this causes a decrease in the price of good B, then the two goods are substitutes. For a given upward sloping supply curve, the more elastic the demand curve the higher the proportion of tax borne by the producer. The management of Valley View University is contemplating increasing tuition fees for the 2020/2021 academic year. As the Chief Economist of the University you are presented with the following to advice management. In the first semester of the 2019/2020 academic year, fees were pegged at ¢2500 and enrolment was 3150. In the second semester the fees went up to ¢2700 and the enrolment dropped to 2950. You further observed that in the 2019/2020 academic year, Central University increased their fees from ¢2600 to ¢2900 and the enrolment at VVU went up from 2150 to 3005. Calculate the arc price elasticity of demand, interpret your results and advice management on pricing. What can we use this coefficient for? Calculate the arc cross-price elasticity of demand and determine the relationship between Central University and Valley View University.
@maxwelldzirasah89993 жыл бұрын
Please it is very urgent
@haramabubakar54242 жыл бұрын
Lol noob
@vedantsanas8564 Жыл бұрын
very helpful
@laibanoorkhattar34316 жыл бұрын
LIFE SAVERRR
@thembinkosimahemu2232 жыл бұрын
How about a feasible point? Is it the same as inefficient?
@mitch_ob30582 жыл бұрын
Wowww. Lol. So many information from one graph
@showbiz22384 жыл бұрын
Thanks
@cassiegalvez41022 жыл бұрын
thank youu sir
@user-wg8hl4dp8p4 ай бұрын
What about point a explain please
@nelsonmwayela10177 жыл бұрын
who is this teacher???
@cartoonstar73803 жыл бұрын
Best
@apoorvatripathi43224 жыл бұрын
Point K indicates unemployment, but can they indicate technological problem?
@derrickoforiamoako62433 жыл бұрын
sometimes it can hello
@danielleswarts65873 жыл бұрын
It can indicate a number of things and not only unemployment. There are various things that can cause workers to function inefficiently. K is more representative of ineffenciency rather than only unemployment.
@amireisa6964 Жыл бұрын
اريد ترجمة المحاضرة بالعربية لكي افهم ،كيف يمكنني ذلك
@anjaliangel41264 жыл бұрын
Sir m having doubts.in ppt...please give me ur mail id..so i can ask my doubt