S Suppose Japan produces two types of goods: agricultural goods and capital good. The following graph shows its current production possibilities frontier (PPF) for wheat, an agricultural good, and construction vehicles, a capital good. On the following graph, adjust the production possibilities frontier (PPF) to show the effects of an agricultural innovation that increases the crop yield of each acre of land. Hint: 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. CONSTRUCTION VEHICLES (Thousands) 420 350 280 210 140 70 0 40 80 PPF 120 160 200 240 WHEAT (Millions of bushels) PPF ?
S Suppose Japan produces two types of goods: agricultural goods and capital good. The following graph shows its current production possibilities frontier (PPF) for wheat, an agricultural good, and construction vehicles, a capital good. On the following graph, adjust the production possibilities frontier (PPF) to show the effects of an agricultural innovation that increases the crop yield of each acre of land. Hint: 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. CONSTRUCTION VEHICLES (Thousands) 420 350 280 210 140 70 0 40 80 PPF 120 160 200 240 WHEAT (Millions of bushels) PPF ?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:S
Suppose Japan produces two types of goods: agricultural goods and capital good. The following graph shows its current production possibilities frontier
(PPF) for wheat, an agricultural good, and construction vehicles, a capital good.
On the following graph, adjust the production possibilities frontier (PPF) to show the effects of an agricultural innovation that increases the crop yield
of each acre of land.
Hint: 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.
CONSTRUCTION VEHICLES (Thousands)
420
350
280
210
140
70
0
40
80
PPF
120
160
200
240
WHEAT (Millions of bushels)
PPF
?
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