The production possibilities curve below shows the hypothetical relationship between the production of guns (national defense) and butter (social goods) in an economy.

this question is for homework.

Consider an economy than only produces two goods - Blueberries and Batteries. Step 1: Draw a production possibilities frontier (PPF) for this economy. Label blueberries on the vertical axis and batteries on the horizontal axis. Label one point that is "efficient", one point that is "inefficient", and one point that is "unattainable". Step 2. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a technological change that increased the production of batteries only. (Hint: The intercept for blueberries will not change.) Clearly label the new PPF. Step 3. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a drought that destroyed some of the blueberry harvest. (Hint: The intercept for batteries will not change.) Clearly label the new PPF. Step 4: Draw another PPF of the economy with the axes labeled. Grab…

Suppose that the community of Markstown produces two goods: Michelob light beer(MLB) and bacon/lettuce/tomato sandwiches (BLTs). Assuming increasingopportunity costs, draw a production possibilities curve (PPC) for Markstown