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Thanks! If you have any questions about the question let me know!
\(Curve~Is~missing~\to~\) "given a production possibilities curve"
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... \(Till~then~go~out~have~A~walk~and~come~back~!!\)
Yes it is right except it is curved and not a line!
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
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 ?