Suppose there is an improvement in technology.Which statement best reflects what would happen to a production possibilities frontier?
A) The economy would produce outside its original production possibilities frontier.
B) The economy would move along its original production possibilities frontier.
C) There would be no effect on the production possibilities frontier.
D) The production possibilities frontier would change to a line with a positive slope.
Correct Answer:
Verified
Q111: Which of the following would shift the
Q112: Assume a bowed-out shape of a production
Q113: Exhibit 2-7 Q114: What does any movement along the production Q115: Assume a bowed-out production possibilities frontier showing Q117: Which of the following would shift the Q118: Suppose there is an improvement in technology.Which Q119: On a production possibilities frontier, how is Q120: Exhibit 2-6 Q121: Which of the following is NOT determined
a.
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