Define the production possibilities curve in your own words- Microeconomics
Outline the manufacturing potentialities curve in your individual words- Microeconomics
  1. Outline the manufacturing potentialities curve in your individual phrases.
  2. May a nation's manufacturing potentialities curve ever shift inward? What are TWO components that will trigger this to happen?
  3. How can an economic system obtain factors which can be exterior the manufacturing potentialities curve?
Use the next graph to handle questions four and 5 under. Take into account a manufacturing potentialities curve (PPC) for an economic system that produces farm items and manufacturing unit items. It will possibly produce the mixtures listed within the desk. Discover if the economic system produces extra farm items, it's going to quit manufacturing unit items assets.

Level on PPC

Farm items

Manufacturing facility items

b

10

700

c

20

650

e

60

400

f

70

120

  1. If the economic system needed to maneuver from level b to c, what could be the chance value of accelerating farm manufacturing by 10 tons? Your reply must be when it comes to manufacturing unit items.
  2. Examine the motion from b to c and from e to f. What do you discover about alternative value? Clarify.