Webb8 dec. 2024 · Economic growth shifts the PPF outward. The Shape of the PPF The PPF could be a straight line, or bow-shaped Depends on what happens to opportunity cost as economy shifts resources from one industry to the other. If opp. cost remains constant, PPF is a straight line. (In the previous example, opp. cost of a computer was always 10 … WebbEconomic growth causes the PPF to shift rightward. Productive efficiency implies that gains are impossible in one area without losses in another. A PPF is bowed outward as a …
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WebbThe Production Possibilities Frontier (PPF) is a graph that shows all the different combinations of output of two goods that can be produced using available resources … WebbThe PPF for two goods (X and Y) is a downward-sloping curve that is bowed outward If. Select one: a. increasingly more units of good Y must be given up as each successive … in which county is dudley
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WebbA PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-loping straight line because most resources are better suited for production … Webb7 juli 2024 · The bowed-outward shape of the PPF represents increasing opportunity costs of production because it indicates that it is becoming more and more costly to produce … WebbSCARCITY, CHOICE, AND OPPORTUNITY COST FIGURE 2.9 Colleen and Bill Gain from Trade Although it exists only as an abstraction, the ppf illustrates a number of very important concepts that we shall use throughout the rest of this book: scarcity, unemployment, inefficiency, opportunity cost, the law of increasing opportunity cost, … onn 20000mah power bank