Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as a(n):

Question

Quizplus · Accepted Answer

A technological advance that increases the amount of output for the same amount of inputs would result in an increase in productivity and efficiency, leading to an outward shift of the production possibilities curve. This allows for an increase in production of both goods and services, without sacrificing the production of other goods and services.

Using a Production Possibilities Curve, a Technological Advance That Increases