Use a production-possibility curve to show how resource growth and improvement in technology can allow a nation to increase its production of government goods and services while also increasing its output of private goods and services.

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A: Opportunity cost refers to decrease in production of one good needed to produce more of other good.

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Q: As productive resources and technological know-how increase, a nation’s production-possibility curve…

A: A Production Possibility Curve (PPC) is a graph that shows all the possible combinations of two…

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A: Opportunity cost is the next best alternative foregone.Here sacrifice has to be made for gaining…

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Q: Production possibility curve shows ____________. a. All of these b. The output that can be produced…

A: The answer is - d. Production of two products that are produced by an economy Production possibility…

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A: here we answer this given as follow;

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A: Since, you have asked multiple questions, we will solve the first question for you. If you want any…

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A: As per Karl Marx version of economics, People depend on basic amenities without which they can never…