A country, Frankland, produces only two products, cars and trucks. Currently, Frankland is producing on the curve, producing an even amount of cars and trucks. Define what a production possibilities curve is and is used for, and explain what happens when a new technology is adopted by the country of Frankland and the nation is able to increase production because of the increased productivity. You must use complete sentence to answer this question.

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
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A country, Frankland, produces only two products, cars and trucks.
Currently, Frankland is producing on the curve, producing an even amount of cars
and trucks. Define what a production possibilities curve is and is used for, and
explain what happens when a new technology is adopted by the country of
Frankland and the nation is able to increase production because of the increased
productivity.
You must use complete sentence to answer this question.
Transcribed Image Text:A country, Frankland, produces only two products, cars and trucks. Currently, Frankland is producing on the curve, producing an even amount of cars and trucks. Define what a production possibilities curve is and is used for, and explain what happens when a new technology is adopted by the country of Frankland and the nation is able to increase production because of the increased productivity. You must use complete sentence to answer this question.
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