e. Suppose improvement occurs in the technology of producing forklifts but not in the technology of producing

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e. Suppose improvement occurs in the technology of producing forklifts but not in the technology of producing automobiles. Draw the new production possibilities curve.

Now assume that a technological advance occurs in producing automobiles but not in producing forklifts. Draw the new production possibilities curve. Now draw a production possibilities curve that reflects technological improvement in the production of both goods.

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Related Book For  book-img-for-question

Essentials Of Economics

ISBN: 9780073511313

2nd Edition

Authors: Stanley L. Brue, Campbell R. McConnell, Sean M. Flynn

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