4. Shifts in production possibilities Suppose the fictional country of Haleakala produces two types of goods: agricultural and capital. The following diagram shows its CL possibilities frontier for rye, an agricultural good, and electric generators, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of generators. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired por snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
4. Shifts in production possibilities Suppose the fictional country of Haleakala produces two types of goods: agricultural and capital. The following diagram shows its CL possibilities frontier for rye, an agricultural good, and electric generators, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of generators. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired por snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Ab 34
Economics
Transcribed Image Text:4. Shifts in production possibilities
Suppose the fictional country of Haleakala produces two types of goods: agricultural and capital. The following diagram shows its current production
possibilities frontier for rye, an agricultural good, and electric generators, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of electric,
generators.
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will
snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
?
ELECTRIC GENERATORS (Thousands)
180
150
120
90
8
30
30
PPF
60
DO
120
RYE (Millions of bushels)
150
180
SE
PPF
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