Answer to Question #37321 in Economics of Enterprise for jothi

Question

What can you expect to take place in its production possibility space if this economy employs& advanced technology in its production processes? Argue

Answer 1

Answer on Question #37321 - Economics - Economics of Enterprise.
Production Possibility Frontier - PPF is a curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.). The PPF assumes that all inputs are used efficiently.
If this economy employs advanced technology in its production processes, the PPF will shift to the right as it is the quality improvement of the economy operation.