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blahdfasd

  • one year 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
    • one year ago
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    \(\color{darkgreen}{~\huge\star~``Welcome~to~Open~Study~!!"~\star~}\) @blahdfasd

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

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

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

  5. blahdfasd
    • one year 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
    • one year 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
    • one year ago
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    ie: ppc intersects at (0,5) and (5,0)

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

  9. Koikkara
    • one year 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
    • one year ago
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    Yes it is right except it is curved and not a line!

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

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

  13. blahdfasd
    • one year 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
    • one year ago
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    Alright, In case of line, what do u say.... its above X-axis or below ?

  15. blahdfasd
    • one year 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
    • one year ago
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    So is the equal prift line the x axis or above it is the question

  17. Koikkara
    • one year ago
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    |dw:1403255707098:dw|

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

  19. Koikkara
    • one year 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
    • one year ago
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    The Line which passes through point 'a' comes as the equal profit line... does it help ?

  21. blahdfasd
    • one year ago
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    yes thankyou!

  22. Koikkara
    • one year 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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