anonymous
  • anonymous
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)
Economics - Financial Markets
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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Koikkara
  • Koikkara
\(\color{darkgreen}{~\huge\star~``Welcome~to~Open~Study~!!"~\star~}\) @blahdfasd
anonymous
  • anonymous
Thanks! If you have any questions about the question let me know!
Koikkara
  • Koikkara
\(Curve~Is~missing~\to~\) "given a production possibilities curve"

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Koikkara
  • Koikkara
@blahdfasd Hey, forgot curve picture to post, because it is needed to know where the points are...!!
anonymous
  • anonymous
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?)
anonymous
  • anonymous
I'm wondering what the general shape of the line would be - is it the x axis or is it higher?
anonymous
  • anonymous
ie: ppc intersects at (0,5) and (5,0)
Koikkara
  • Koikkara
alright, let me give a try... \(Till~then~go~out~have~A~walk~and~come~back~!!\)
Koikkara
  • Koikkara
|dw:1403254418899:dw| Is this right ? because you may have much better Idea than i do.. Ref: Attached picture ~
anonymous
  • anonymous
Yes it is right except it is curved and not a line!
Koikkara
  • Koikkara
@blahdfasd \(Now, you~May~have~the~answer~where~`X-Axis'~Lies~!!\)
anonymous
  • anonymous
Except, I'm not sure what the answer is?
anonymous
  • anonymous
I'm sure it's a horizontal line, I'm just not sure if it is the x axis or higher...
Koikkara
  • Koikkara
Alright, In case of line, what do u say.... its above X-axis or below ?
anonymous
  • anonymous
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.
anonymous
  • anonymous
So is the equal prift line the x axis or above it is the question
Koikkara
  • Koikkara
|dw:1403255707098:dw|
anonymous
  • anonymous
hmm, I'm a little confused which one is the equal profit line?
Koikkara
  • Koikkara
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
Koikkara
  • Koikkara
The Line which passes through point 'a' comes as the equal profit line... does it help ?
anonymous
  • anonymous
yes thankyou!
Koikkara
  • Koikkara
\(Additional~Information~!!\) 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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