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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Technological innovations shift the production possibility curve. Look at graph you sketched for Exercise 12.13 Which types of technologies should a country promote? Should “clean” technologies be promoted over other technologies? Why or why not?

To determine

For given graph, find out what kind of technologies could a country promote and should clean technologies be promoted over other technologies or not.

Explanation

The graph demonstrates that P,R,S are on the PPF curve and hence are productively efficient but point T and S are inside the curve and not a productive choice. Technology and innovations can shift this PPF curve to the right and can make it more productively efficient ...

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