Question
4.Give an example to illustrate each of the following: (a) constant opportunity costs (b) increasing opportunity costs: 6. Within the PPF framework, explain each of
4.Give an example to illustrate each of the following: (a) constant opportunity costs (b) increasing opportunity costs:
6. Within the PPF framework, explain each of the following: (a) a disagreement between a person who favors more domestic welfare spending and one who favors more national defense spending;
(b) an increase in the population; and (c) a technological change that makes resources less specialized. 8. If the slope of the production possibilities frontier is the same between any two points, what does this imply about costs? Explain.
10.Can a technological advancement in sector " X" of the economy affect the number of people who work in sector "Y" of the economy? Explain.
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