ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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An outward shift of a production possibilities curve can be caused by
a. planting a more profitable farm crop
b. improving technology
c. using idle resources
d. changing consumer preferences
e. increasing the minimum wage
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Answer:
PPF shifts outward when the overall production capacity of the economy increases. Production capacity can increase due to the increase in resources and due to improvement in the technology of production. Improved technology will increase the productivity of available resources and the economy can produce more of all the goods using the available resouces.
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