ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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4. Shifts in production possibilities
Suppose the fictional country of Olympia produces two types of goods: agricultural and capital. The following diagram shows its current production
possibilities frontier for rye, an agricultural good, and microprocessors, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of microprocessors.
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will
snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
?
MICROPROCESSORS (Thousands)
400
400
320
240
160
80
100
270
PPF
W
م
PPF
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Transcribed Image Text:4. Shifts in production possibilities Suppose the fictional country of Olympia produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for rye, an agricultural good, and microprocessors, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of microprocessors. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ? MICROPROCESSORS (Thousands) 400 400 320 240 160 80 100 270 PPF W م PPF
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