Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities curve (PPC) for wheat, an agricultural good, and industrial robots, a capital good. Drag the production possibilities curve (PPC) on the graph to show the effects of a breakout of a pandemic that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ? INDUSTRIAL ROBOTS (Thousands) 420 350 280 210 140 70 0 0 40 PPC 80 120 160 WHEAT (Millions of bushels) 200 240 PPC
Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities curve (PPC) for wheat, an agricultural good, and industrial robots, a capital good. Drag the production possibilities curve (PPC) on the graph to show the effects of a breakout of a pandemic that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ? INDUSTRIAL ROBOTS (Thousands) 420 350 280 210 140 70 0 0 40 PPC 80 120 160 WHEAT (Millions of bushels) 200 240 PPC
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 7SQ
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ISBN:
9781305260948
Author:
Irvin B. Tucker
Publisher:
Cengage Learning