Tuesday, September 28, 2010

1. If i owned a business a production possibilty curve would show me a representation of combinations of the amounts of two goods or services that an economy can produce by transferring resources from one good or service to the other. my curve would help me in determining what quantity of a non-essential good or a service an economy can afford to produce without jeopardizing the required production of a good or service.
an outward shift would occur if i made an improvement in my technology that would benefit both types of goods.

2.i would know im making a rational decision if  knowing and doing what's healthy in the long term In rational choice making the costs are only