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Time to get drawing! You will draw production possibilities frontiers. If we were on-campus, we would draw LOTS of diagrams. Since we are online. you
Time to get drawing! You will draw production possibilities frontiers. If we were on-campus, we would draw LOTS of diagrams. Since we are online. you draw diagrams. take a picture and upload it for review. You can also make a video. The choice is yours :3 Instructions: Consider an economy than only produces two goods - Blueberries and Batteries. Step 1: Draw a production possibilities frontier (PPF) for this economy. Label blueberries on the vertical axis and batteries on the horizontal axis. Label one point that is "efcient", one point that is "inefficient", and one point that is "unattainable". Step 2. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a technological change that increased the production of batteries only. (Hint: The intercept for blueberries will not change.) Clearly label the new PPF. Step 3. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a drought that destroyed some of the blueberry harvest. (Hint: The intercept for batteries will not change.) Clearly label the new PPF. Step 4: Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a wave of immigration to the economy in which the workers were equally capable of working in battery production or blueberry production. (Hint; Both intercepts will change.) Clearly labeled the new PPF. You will have a total of 4 graphs in total. No numbers are necessary on any of the 4 graphs. I know that you know the number scale {zero to innity from the origin going right along the horizontal axis and zero to innity from the origin going up vertical axis), so it is not necessary to include any numbers on your graphs
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