An advance in production technology would cause the production possibilities curve to shift outward.

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

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Question Posted: Nov 14, 2024 02:00 AM

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An advance in production technology would cause the production possibilities curve to shift outward.
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The production possibilities frontier is bowed outward because the trade-off between the production of any two goods is constant.
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An advance in production technology would cause the production possibilities curve to shift outward.

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

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