Question: Draw a production possibilities frontier that shows the trade-off between the production of cotton and the production of soybeans. a. Show the effect that a

Draw a production possibilities frontier that shows the trade-off between the production of cotton and the production of soybeans.

a. Show the effect that a prolonged drought would have on the initial production possibilities frontier.

b. Suppose that genetic modification makes soybeans resistant to insects, allowing yields to double. Show the effect of this technological change on the initial production possibilities frontier?

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