menu
bartleby
search
close search
Hit Return to see all results

how does technology affect the production possibility frontier/curve?

Question

how does technology affect the production possibility frontier/curve?

check_circleAnswer
Step 1

Production possibility frontier/curve (PPC) is a curve representing combinations of goods that ...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Our solutions are written by experts, many with advanced degrees, and available 24/7

See Solution
Tagged in

Business

Economics

Microeconomics

Related Economics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: During a year of operation, a firm collects $450,000 in revenue and spends $100,000 on labor expense...

A: It is given that,Firms’ Revenue = $450, 000Firms’ Explicit Cost (Expense on labor, raw material, ren...

question_answer

Q: A mutual fund has a rate of return for five years of 10%, 14%, 10%, and 22% . Calculate the geometri...

A: Geometric mean: It is the average of a set of observations and is generally used for calculating gro...

question_answer

Q: 1. Mary buys three goods: A, B, and C. When her income rises she buys less of good B and more of goo...

A: 1)A normal good is elastic in nature with respect to income and demand for the good. In this case Ma...

question_answer

Q: A mathematical approximation called the rule of 70 tells us that the number of years that it will ta...

A: Applying to this case if the rule of 70 Mexico's Real GDP per person would nearly double concerning ...

question_answer

Q: 1)   The Constitution tends to be ________ to encompass the great expansion of presidential power. A...

A: Answer 1: The correct option is D.The global power of a president of a nation is primarily represent...

question_answer

Q: Price competition between firms, from the firms’ perspective, can be similar to the prisoners’ dilem...

A: Prisoner's Dilemma is defined as a basic framework which lets the firms and the competitors to strik...

question_answer

Q: In the circular-flow diagram, which of the following do firms NOT do?   a. use factors of production...

A: In the circular-flow diagram, the following are done by the firms :a)The firm uses factors of produc...

question_answer

Q: The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using ...

A: Opportunity Cost is the cost of the next best alternative that is not chosen. It measures the loss o...

question_answer

Q: How will automation affect the unskilled labor,

A: Automation:It is a technology by which the task is performed with the help of minimum human help.Typ...

Sorry about that. What wasn’t helpful?