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Using the numbers above, draw the production possibilities frontier for China only. Put Digital Camera on the horizontal axis and Wheat on the vertical axis.
Using the numbers above, draw the production possibilities frontier for China only. Put "Digital Camera" on the horizontal axis and "Wheat" on the vertical axis. Be sure to identify the intercept values on your graph, if possible. Remember to assume constant opportunity costs. Label this production possibilities frontier "P1". Suppose someone invents a technology that only helps the microchip production process for digital cameras. Draw a new production possibilities frontier for China relative to the old one. Label this production possibilities frontier "P2." Even though the new technology helps microchip production for digital cameras only and microchips are not used in the process for wheat production, does China produce more of both goods? Explain
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