ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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8. Shifts in production possibilities
Suppose the United States produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities
frontier (also known as the production possibilities curve) for alfalfa, an agricultural good, and locomotives, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the
country.
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Transcribed Image Text:8. Shifts in production possibilities Suppose the United States produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier (also known as the production possibilities curve) for alfalfa, an agricultural good, and locomotives, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the country.
300
250
PPF
200
150
100
50
PPF
80
160
240
320
400
480
ALFALFA (Millions of bushels)
LOCOMOTIVES (Thousands)
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Transcribed Image Text:300 250 PPF 200 150 100 50 PPF 80 160 240 320 400 480 ALFALFA (Millions of bushels) LOCOMOTIVES (Thousands)
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