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What is the likely result when a technological change doubles an economy's ability to produce good X and triples the economy's ability to produce Y?
What is the likely result when a technological change doubles an economy's ability to produce good X and triples the economy's ability to produce Y?
a. The economy will tend to produce less X and more Y than before.b. The opportunity cost of producing units of Y in terms of X forgone will tend to fall.c. The production possibilities curve will shift out further along the X-axis than along the Y-axis.
d. The economy will tend to demand more X and less Y than before.
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