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18 A farm grows soybean and produces chickens. The opportunity com of producing each of these products increases as more of it is produced. Draw
18
A farm grows soybean and produces chickens. The opportunity com of producing each of these products increases as more of it is produced. Draw the farm's PPF. Label it PPF_0. The farm adopts a new technology which allows it to use fewer resources to fatten chickens. Draw a PPF that illustrates the impact of the new technology. Label it PPF_1. With the new technology, the opportunity cost of producing a bushel of soybean because must be forgone to produce a bushel of soybean. A decreases; fewer chickens decreases, more chickens does not change, the same number of chickens increases; fewer chickens Step by Step Solution
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