Answer to Question #66166 in Microeconomics for usman
Question #66166
Draw a production possibilities curve for a hypothetical economy producing capital goods and consumer goods. Suppose a major technological breakthrough occurs in the capital goods industry and the new technology is widely adopted only in this industry. Draw the new production possibilities curve. Now assume that a technological advance occurs in consumer goods production, but not in capital goods production. Draw the new production possibilities curve.
what is the answer
what is the answer
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