Answer: Introduction: In 2017, the Sydney Morning Herald, a leading newspaper of Australia, published an article stating that various economists have provided their different overviews regarding the economic performance of Australia in 2017 through considering economic activities of previous year (Meyer 2018). According to some economists, Australia’s gross domestic product (GDP) is expected to increase in coming year due to increasing ...Read More >>
Answers: 1. a i) Figure 1: Production possibility curve of Joan ii) Opportunity cost is said to be increasing when people has to sacrifice more and more units of one commodity to have one additional unit of other (Mankiw 2014). For Joan, increasing grades involves sacrifice of more and more hours of work per week. For example, first 20 percent grade has an opportunity cost of 5 work hours. The opportunity cost for grade of 40, 60, 80 ar...Read More >>
Answer: The shape of the PPC is not linear but outward sloping which is indicative of the increasing opportunity cost. This implies that there is an increasing opportunity cost attached for every incremental increase in the production of the a particular good. This opportunity cost is in the form of decrease in the production of the other good (Arnold, 2015). In the given case, to increase the grade from 0% to 20%, the opportunity cost is 5 hou...Read More >>
Task: Project Content 1. Background information about the organisation Provide brief historical and background information on the company or organisation you have chosen, and any key events in the organisation, such as the introduction of new products. 2. Identification of the SBU Define the SBU (strategic business unit) you will be discussing for the purpose of this project. You should mention/identify how the SBU that you have ...Read More >>
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