Solution manual Foundations of Business Foundations of Business 7th edition answers William M. Pride business book solutions Foundations of Business chapter solutions Business textbook solutions manual Foundations of Business study guide 7th edition business solutions manual Foundations of Business...
01-02
Topic: Attributes of the Production Possibilities Frontier xe xe xe xe xe xe
, 5. Suppose you were modeling the impact ofthe introductionofcomputer automation into xe xe xe xe xe xe xe xe xe xe xe xe xe
manufacturing on a production possibilities frontier (PPF) with two manufactured goods on t xe xe xe xe xe xe xe xe xe xe xe xe
heir respective axes. It would be more likely that the result would be
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a) generalized growth with the PPF moving both up and to the right. xe xe xe xe xe xe xe xe xe xe xe
b) specialized growth with the PPF moving both up and to the right. xe xe xe xe xe xe xe xe xe xe xe
c) generalized growth with the PPF just moving up and not to the right. xe xe xe xe xe xe xe xe xe xe xe xe
d) specialized growth with the PPF just moving up and not to the right. Explanation: Co xe xe xe xe xe xe xe xe xe xe xe xe xe xe
mputer automation is a general improvement intechnologyso it would improve all manufact
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uring. As a result, it would result in generalized growth and move the PPF both up and to the ri
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6. The optimization assumption suggests that people make
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a. irrational decisions. xe
b. unpredictable decisions. xe
c. decisions to make themselves as well off as possible. xe xe xe xe xe xe xe xe
d. decisions without thinking veryhard. xe xe xe xe
Explanation: The optimizationassumption suggests that the person in question is trying to max
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imize some objective. Consumers are assumed to be making decisions that maximize their ha
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ppiness subject to a scarce amount of money.
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AACSB: Reflective Thinking Accessibi xe xe xe
lity:KeyboardNavigation Blooms: Rem
e
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ember
Difficulty: 01 Easy Gradeable: xe xe xe xe
automatic LearningObjective: xe xe xe
01-01
Topic: Thinking Economically
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