Answered: The following can cause the production…

The following can cause the production possibilities curve to shift to the right? a. Indifference curve shifting to the right b. increased demand c. the wealth effect. d. New resources

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 7P

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Question

The following can cause the production possibilities curve to shift to the right?

a. Indifference curve shifting to the right

b. increased demand

c. the wealth effect.

d. New resources

Definition Definition Curve that represents the various combinations of production possibilities of two commodities when resources or factors of production are given.

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