Possibilities ontier iction Possibilities Frontier 28 PPFN PPFn 24 20 Point E 20 Point E PPFO PPFO 16 16 12 12 8 4 4 12 16 20 24 8 12 16 20 24 product X product X product Y product Y

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 12RQ: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?
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7. Which of the above figures represents economic growth caused by an improvement in the technology of producing product of both X and Y?

   

a) FIG A

   

b) FIG B

   

c) FIG C

   

d) FIG D

Fig. A
Fig. B
Production Possibilities Frontier
Production Possibilities Frontier
28
28
PPFn
24
PPFN
Point E
Point E
20
20
PPF.
PPFO
16
16
12
12
8
4
4
12
16
20
24
8
12
16
20
24
product X
product X
Fig. C
Fig. D
Production Possibilities Frontier
Production Possibilities Frontier
28
28
PPFN
24
24
PPFn
Point E
20
Point E
20
PPFO
PPFO
16
16
12
12
8
8
4
4
8
12 16
20
24
8
12
16
20
24
product X
product X
product Y
product Y
product Y
product Y
Transcribed Image Text:Fig. A Fig. B Production Possibilities Frontier Production Possibilities Frontier 28 28 PPFn 24 PPFN Point E Point E 20 20 PPF. PPFO 16 16 12 12 8 4 4 12 16 20 24 8 12 16 20 24 product X product X Fig. C Fig. D Production Possibilities Frontier Production Possibilities Frontier 28 28 PPFN 24 24 PPFn Point E 20 Point E 20 PPFO PPFO 16 16 12 12 8 8 4 4 8 12 16 20 24 8 12 16 20 24 product X product X product Y product Y product Y product Y
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ISBN:
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