MICRO ECONOMICS

(d) technological advance in education production figure 2 F 7 Food Education E E' Elaborate: Following the graphs on figure 2, give a concrete example of a shift in a PPC, and explain how the shift occurs and what caused the shift. For example: () ineseare in available resources Given a funding of Php 20 million, a country can produce quantities of food and F' education found in the original PPC curve FE. An increase of funding to Php 30 F million expands the production of food and education to PPC F'E'. The shift of the PPC 7 Food to the right is caused by an increase in available resource, particularly of the Education E funding