Draw a PPF graph for a farm producing two products (RICE & WHEAT) that illustrates increasing opportunity cost and show: a) Show how this PPF graph will change when a technological progress happens in the production of both products? b) Show how this graph will change when this PPF graph shift inwards? And what could be the reason for this PPF graph to shift inwards?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Draw a PPF graph for a farm producing two products (RICE & WHEAT) that illustrates increasing opportunity cost and show: a) Show how this PPF graph will change when a technological progress happens in the production of both products? b) Show how this graph will change when this PPF graph shift inwards? And what could be the reason for this PPF graph to shift inwards?

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