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blahdfasd

  • 6 months ago

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)

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  1. Koikkara
    • 6 months ago
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    \(\color{darkgreen}{~\huge\star~``Welcome~to~Open~Study~!!"~\star~}\) @blahdfasd

  2. blahdfasd
    • 6 months ago
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    Thanks! If you have any questions about the question let me know!

  3. Koikkara
    • 6 months ago
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    \(Curve~Is~missing~\to~\) "given a production possibilities curve"

  4. Koikkara
    • 6 months ago
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    @blahdfasd Hey, forgot curve picture to post, because it is needed to know where the points are...!!

  5. blahdfasd
    • 6 months ago
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    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?)

  6. blahdfasd
    • 6 months ago
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    I'm wondering what the general shape of the line would be - is it the x axis or is it higher?

  7. blahdfasd
    • 6 months ago
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    ie: ppc intersects at (0,5) and (5,0)

  8. Koikkara
    • 6 months ago
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    alright, let me give a try... \(Till~then~go~out~have~A~walk~and~come~back~!!\)

  9. Koikkara
    • 6 months ago
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    |dw:1403254418899:dw| Is this right ? because you may have much better Idea than i do.. Ref: Attached picture ~

  10. blahdfasd
    • 6 months ago
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    Yes it is right except it is curved and not a line!

  11. Koikkara
    • 6 months ago
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    @blahdfasd \(Now, you~May~have~the~answer~where~`X-Axis'~Lies~!!\)

  12. blahdfasd
    • 6 months ago
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    Except, I'm not sure what the answer is?

  13. blahdfasd
    • 6 months ago
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    I'm sure it's a horizontal line, I'm just not sure if it is the x axis or higher...

  14. Koikkara
    • 6 months ago
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    Alright, In case of line, what do u say.... its above X-axis or below ?

  15. blahdfasd
    • 6 months ago
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    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.

  16. blahdfasd
    • 6 months ago
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    So is the equal prift line the x axis or above it is the question

  17. Koikkara
    • 6 months ago
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    |dw:1403255707098:dw|

  18. blahdfasd
    • 6 months ago
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    hmm, I'm a little confused which one is the equal profit line?

  19. Koikkara
    • 6 months ago
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    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

  20. Koikkara
    • 6 months ago
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    The Line which passes through point 'a' comes as the equal profit line... does it help ?

  21. blahdfasd
    • 6 months ago
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    yes thankyou!

  22. Koikkara
    • 6 months ago
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    \(Additional~Information~!!\) Also, Slope of a Curve • “Slope” = number which describes the change in a curve !! \(\color{darkgreen}{~''Nice~To~Meet~You~!!"}\) @blahdfasd

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