Draw a production possibilities curve for a hypothetical economy producing capital goods and consumer goods. Suppose a major technological breakthrough occurs in the capital goods industry and the new technology is widely adopted only in this industry. Draw the new production possibilities curve. Now assume that a technological advance occurs in consumer goods production, but not in capital goods production. Draw the new production possibilities curve.
what is the answer
1
Expert's answer
2017-03-10T12:18:06-0500
Dear usman , your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order
Comments
Leave a comment