11. True or false? Explain your answer. a. An increase in the amount of resources available to...

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11. True or false? Explain your answer.

a. An increase in the amount of resources available to Tom for use in producing coconuts and fish does not change his production possibility frontier.

b. A technological change that allows Tom to catch more fish for any amount of coconuts gathered results in a change in his production possibility frontier.

c. The production possibility frontier is useful because it illustrates how much of one good an economy must give up to get more of another good regardless of whether resources are being used efficiently.

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Economics

ISBN: 978-0716771586

2nd Edition

Authors: Paul Krugman ,Robin Wells

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