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blahdfasd
given a production possibilities curve between wheat and corn, what does the equal profit line when the price of wheat is 0? The slope is 0, but where is the horizontal line located? (If the price of wheat is 0, no wheat is grown)
\(\color{darkgreen}{~\huge\star~``Welcome~to~Open~Study~!!"~\star~}\) @blahdfasd
Thanks! If you have any questions about the question let me know!
\(Curve~Is~missing~\to~\) "given a production possibilities curve"
@blahdfasd Hey, forgot curve picture to post, because it is needed to know where the points are...!!
Sorry! It's just a regular ppc curve that's bow shaped. (in general, how would the equal profit line if the goods on the x axis has a price of 0?)
I'm wondering what the general shape of the line would be - is it the x axis or is it higher?
ie: ppc intersects at (0,5) and (5,0)
alright, let me give a try... \(Till~then~go~out~have~A~walk~and~come~back~!!\)
|dw:1403254418899:dw| Is this right ? because you may have much better Idea than i do.. Ref: Attached picture ~
Yes it is right except it is curved and not a line!
@blahdfasd \(Now, you~May~have~the~answer~where~`X-Axis'~Lies~!!\)
Except, I'm not sure what the answer is?
I'm sure it's a horizontal line, I'm just not sure if it is the x axis or higher...
Alright, In case of line, what do u say.... its above X-axis or below ?
Yes, since the product on the x axis has a price of 0, and the slope of the equal profit line is the price of the good on the x axis over the price of the good on the y axis, the slope must be 0.
So is the equal prift line the x axis or above it is the question
|dw:1403255707098:dw|
hmm, I'm a little confused which one is the equal profit line?
Tangent of a Curve ( From Figure) • tangent is drawn at only one pt on the curve • a straight line which ‘touches’ the curve only at the one point • slope of the tangent represents the slope of the curve • Note: when person (object) changes direction the tangent is horizontal so the slope is ZERO
The Line which passes through point 'a' comes as the equal profit line... does it help ?
\(Additional~Information~!!\) Also, Slope of a Curve • “Slope” = number which describes the change in a curve !! \(\color{darkgreen}{~''Nice~To~Meet~You~!!"}\) @blahdfasd