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Answer to Question #37321 in Economics of Enterprise for jothi
Question #37321
What can you expect to take place in its production possibility space if this economy employs& advanced technology in its production processes? Argue
Expert's answer
Answer on Question #37321 - Economics - Economics of Enterprise.
Production Possibility Frontier - PPF is a curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.). The PPF assumes that all inputs are used efficiently.
If this economy employs advanced technology in its production processes, the PPF will shift to the right as it is the quality improvement of the economy operation.
Production Possibility Frontier - PPF is a curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.). The PPF assumes that all inputs are used efficiently.
If this economy employs advanced technology in its production processes, the PPF will shift to the right as it is the quality improvement of the economy operation.
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