32. fast please **Transcription for Educational Website**Refer to the diagram to the right, which shows various points on three different production possibilities frontiers for a nation. A movement from Y to Z:- A. is the result of a decrease in preference for food products.- B. represents an increase in the demand for plastic products.- C. **is the result of advancements in plastic production technology.**- D. is the result of advancements in food production technology.**Diagram Explanation**The diagram on the right illustrates three production possibilities frontiers, each represented by a curve. These curves show the trade-off between two types of products: food products and plastic products.- The x-axis represents the quantity of plastic products.- The y-axis represents the quantity of food products.There are three curves depicted in the graph with points V, W, X, Y, and Z:- Point X lies on the innermost curve.- Point Y is on a middle curve, indicating a higher production possibility compared to the one with point X.- Point Z is on the outermost curve, reflecting an even greater production possibility frontier. A movement from point Y to point Z represents technological advancements in plastic production, allowing more of both types of goods to be produced.

The production possibility curve represents the combination of the two commodities in the market. It…

Refer to the diagram to the right which shows various points on three different production possibilities frontiers for a nation. A movement from Y to Z O A. is the result of a decrease in preference for food products. O B. represents an increase in the demand for plastic products. C. is the result of advancements in plastic production technology. O D. is the result of advancements in food production technology. Food products W Z X Plastic products

Refer to the diagram to the right which shows various points on three different production possibilities frontiers for a nation. A movement from Y to Z O A. is the result of a decrease in preference for food products. O B. represents an increase in the demand for plastic products. C. is the result of advancements in plastic production technology. O D. is the result of advancements in food production technology. Food products W Z X Plastic products

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

Question

32. fast please

**Transcription for Educational Website**

Refer to the diagram to the right, which shows various points on three different production possibilities frontiers for a nation. A movement from Y to Z:

- A. is the result of a decrease in preference for food products.
- B. represents an increase in the demand for plastic products.
- C. **is the result of advancements in plastic production technology.**
- D. is the result of advancements in food production technology.

**Diagram Explanation**

The diagram on the right illustrates three production possibilities frontiers, each represented by a curve. These curves show the trade-off between two types of products: food products and plastic products.

- The x-axis represents the quantity of plastic products.
- The y-axis represents the quantity of food products.

There are three curves depicted in the graph with points V, W, X, Y, and Z:

- Point X lies on the innermost curve.
- Point Y is on a middle curve, indicating a higher production possibility compared to the one with point X.
- Point Z is on the outermost curve, reflecting an even greater production possibility frontier.

A movement from point Y to point Z represents technological advancements in plastic production, allowing more of both types of goods to be produced.

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