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Return to the example inFigure 2.4(Links to an external site.) . in the textbook. Suppose there is an improvement in medical technology that enables more
Return to the example inFigure 2.4(Links to an external site.)
. in the textbook. Suppose there is an improvement in medical technology that enables more healthcare with the same amount of resources. How would this affect the production possibilities curve.
The opportunity cost for healthcare would decrease
None of the above.
The amount produced with medical technology would increase and shift the curve out the medical technology axis.
Healthcare would shift out.
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