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blahdfasd Group Title

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)

  • one month ago
  • one month ago

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  1. Koikkara Group Title
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    \(\color{darkgreen}{~\huge\star~``Welcome~to~Open~Study~!!"~\star~}\) @blahdfasd

    • one month ago
  2. blahdfasd Group Title
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    Thanks! If you have any questions about the question let me know!

    • one month ago
  3. Koikkara Group Title
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    \(Curve~Is~missing~\to~\) "given a production possibilities curve"

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

    • one month ago
  5. blahdfasd Group Title
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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?)

    • one month ago
  6. blahdfasd Group Title
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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?

    • one month ago
  7. blahdfasd Group Title
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    ie: ppc intersects at (0,5) and (5,0)

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

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

    • one month ago
  10. blahdfasd Group Title
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    Yes it is right except it is curved and not a line!

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

    • one month ago
  12. blahdfasd Group Title
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    Except, I'm not sure what the answer is?

    • one month ago
  13. blahdfasd Group Title
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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...

    • one month ago
  14. Koikkara Group Title
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    Alright, In case of line, what do u say.... its above X-axis or below ?

    • one month ago
  15. blahdfasd Group Title
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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.

    • one month ago
  16. blahdfasd Group Title
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    So is the equal prift line the x axis or above it is the question

    • one month ago
  17. Koikkara Group Title
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    |dw:1403255707098:dw|

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

    • one month ago
  19. Koikkara Group Title
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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

    • one month ago
  20. Koikkara Group Title
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    The Line which passes through point 'a' comes as the equal profit line... does it help ?

    • one month ago
  21. blahdfasd Group Title
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    yes thankyou!

    • one month ago
  22. Koikkara Group Title
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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

    • one month ago
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