Originally the Home economy produced along TT. Home then experienced growth that caused its PPF to shift to TT2- 161 14 Biased Growth in Home Computer production 10- 8- Relative Demand And Supply of Flowers Relative price of flowers RS 12- 10- 8- 6- TT2 8 10 12 14 16 Flower production The Relative Demand and Supply of Flowers is shown to the right and depicts the equilibrium of markets for computers and flowers when Home operated on its production possibilities frontier, TT. 1.) Using the line drawing tool, draw the new relative supply curve and label it RS2. 2.) Using the point drawing tool, identify the new equilibrium point in this market and label it Z. Carefully follow the instructions above and only draw the required objects. A 4- RD 10 Relative quantity of flowers The graph to the right depicts an economy, Home, that produces both flowers and soybeans. Flowers are the labor intensive good and soybeans are the land intensive good.Home presently exports flowers. The graph also indicates Home's optimal point of production, X. Suppose that Home has acquired more land in which it can now produce 12 units of soybeans if all land were devoted toward its production. Using the three-point curved line drawing tool, draw the new production possibilities frontier that indicates this biased growth of land in Home. Properly label this curve. Carefully follow the instructions above and only draw the required object. The growth biased toward land causes A. export-biased growth. B. a decrease in the relative price of flowers. C. a rightward shift of the relative supply curve. OD. import-biased growth. 16- 15- 14- 13- 12- 11- 10- 9- 8- 7- 6- 5- 4- 3- 2- 1- 0 Growth of a Factor Soybean output TT VV 6 7 8 9 10 11 12 13 14 15 16 Flower output D e