Advantages of Studying Product Transformation Curves Homework Help from Expert Help!
Product transformation curves homework help states that it determines production possibility frontier which is often called as Product possibility curve or boundary. It is basically a graph that help is to compare the cost of two goods or commodities provided they use the same factors of production.
Product transformation curves assignment help also states that it can be referred to as the maximum amount of product for a given value of the quantity. It sometimes displays the trade off factor when a country decides to produce a good in place of other.Visit us at myhomeworkhelp.com for more idea.
Ways to represent product transformation curves
In general, there are two familiar methods of representing transformation curve. One will show the marginal rate of transformation of good A and good B, which elaborates that the total amount of A is required to obtain the additional unit of B.
The slope of the curve may look like concave or convex shape; sometimes it shows the characteristics of both of these curve. However, in maximum cases, it is of concave nature considering a constant return to the scale of the production of two commodities.
The points on the graph help us to determine the efficiency of the production.Manuals as product transformation curves homework help say that the production bundle that is located inside the curve is better to produce more than a type of commodities.However, bundles that are present on the outside of the curve cannot be attained due to insufficient inputs.
In case of competitive time, the economy will fall at the curve, where the marginal rate equalizes with relative price of both commodities of Product Transformation Curves.
Talking about the other way, Edge worth box is the method. If there are two countries like country A and B with one production factor and fixed technology,then a linear curve will come out. The marginal rate of transformation is the corresponding result of the slope of transformation curve, which results in the representation of comparative cost.
Comparative cost of a country is denoted by trigonometric factor tan a while tan b is used to represent the comparative cost of the other country. The trade terms are given by tan y.
The graphical representation is the most common method of representing the Ricardian trade model. We are here to provide you with a lot of collective information about product transformation curves assignment help on our website myhomeworkhelp.com.
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