Question: a. How has fracking changed U.S. production possibilities? b. How have advances in technologies for producing other goods and services changed the U.S. production possibilities?

a. How has “fracking” changed U.S. production possibilities?

b. How have advances in technologies for producing other goods and services changed the U.S. production possibilities?

c. If “fracking” had been the only technological advance, how would the PPF have changed?

d. If “fracking” had been the only technological advance, how would the opportunity cost of producing oil and gas have changed? Would it have been lower or higher than it actually was?

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