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Explain how the following situation would affect a nation's production possibilities curve. The quality of education in the nation's colleges and universities improve greatly. What happens to PPF Explanation Choose... Choose... ♦ + PPF shifts inwards Produce inside PPF Unused resources Produce outside PPF Reduction in resources Increase in resources PPF shifts outwards Increased production given resources SP

Explain how the following situation would affect a nation's production possibilities curve. The quality of education in the nation's colleges and universities improve greatly. What happens to PPF Explanation Choose... Choose... ♦ + PPF shifts inwards Produce inside PPF Unused resources Produce outside PPF Reduction in resources Increase in resources PPF shifts outwards Increased production given resources SP

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Answer both questions in each using options from the drop box.

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Explain how the following situation would affect a nation's production possibilities curve. The quality of education in the nation's colleges and universities improve greatly. What happens to PPF Explanation Choose... Choose... PPF shifts inwards Produce inside PPF Unused resources Produce outside PPF Reduction in resources Increase in resources PPF shifts outwards Increased production given resources FI L
Transcribed Image Text:Explain how the following situation would affect a nation's production possibilities curve. The quality of education in the nation's colleges and universities improve greatly. What happens to PPF Explanation Choose... Choose... PPF shifts inwards Produce inside PPF Unused resources Produce outside PPF Reduction in resources Increase in resources PPF shifts outwards Increased production given resources FI L
Explain how the following situation would affect a nation's production possibilities curve. A country produces cars and computers. A new technology that saves time in the car production process is discovered and implemented. What happens to PPF Explanation Choose... Choose... Pivot outwards along the car axis. PPF shifts inwards Increased production given resources Increase in resources PPF shifts outwards Reduction in resources Unused resources Produce inside PPF Pivot outwards along the computer axis. Produce outside PPF
Transcribed Image Text:Explain how the following situation would affect a nation's production possibilities curve. A country produces cars and computers. A new technology that saves time in the car production process is discovered and implemented. What happens to PPF Explanation Choose... Choose... Pivot outwards along the car axis. PPF shifts inwards Increased production given resources Increase in resources PPF shifts outwards Reduction in resources Unused resources Produce inside PPF Pivot outwards along the computer axis. Produce outside PPF
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