经济学 what is a production possibilities frontier?1 Given that an economy is operation on its production possibilities grontier,can you tell if it is efficiently allocating resources?2 Analyze how the producer in a monopoly market determines the

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经济学 what is a production possibilities frontier?1 Given that an economy is operation on its production possibilities grontier,can you tell if it is efficiently allocating resources?2 Analyze how the producer in a monopoly market determines the
经济学 what is a production possibilities frontier?
1 Given that an economy is operation on its production possibilities grontier,can you tell if it is efficiently allocating resources?
2 Analyze how the producer in a monopoly market determines the price and quantity.
3 suppose the production function is Q-min(L,4K),and if the output is 32,what quantity of L and K should we put in production

经济学 what is a production possibilities frontier?1 Given that an economy is operation on its production possibilities grontier,can you tell if it is efficiently allocating resources?2 Analyze how the producer in a monopoly market determines the
1 It is effecient,because it doesn't waste any resources.
2 the monoploly determines price and quantity according to the principle of MC=MR.
3 generally speaking,MPl/MPk=w/r,w is wage and r is the interest.However,in this case,q=L=4K,L/K=4/1,so the L is 25.6 and K is 6.4

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