Use a diagram to describe how general equilibrium is reached when a country is subject to increasing opportunity costs.In your answer,
(a) find and label the country's equilibrium production and consumption points and the relative price of S at equilibrium.
(b) explain carefully how the economy would move to equilibrium if it were not initially in equilibrium.

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The Answer of Use a diagram to describe how general equilibrium is reached when a country is subject to increasing opportunity costs.In your answer,
(a) find and label the country's equilibrium production and consumption points and the relative price of S at equilibrium.
(b) explain carefully how the economy would move to equilibrium if it were not initially in equilibrium.

Use a Diagram to Describe How General Equilibrium Is Reached