2.7 Construct a production possibilities curve (PPC) for anation facing increasing opportunity costs for producing food andvideo games. Show how the PPC changes given the followingevents.
A. A new and better fertilizer is invented.
B. Immigration occurs, and immigrantsâ labor can be employed inboth the agricultural sector and the video game sector.
C. A new programming language is invented that is less costly tocode and is more memory-efficient, enabling the use of smaller gamecartridges.
D. A heat wave and drought result in a 10 percent decrease inusable farmland.
2.9 In response to Senator Creighton's statement reported inProblem 2.8, Senator Long replies, "We must remain at our currentproduction combination if we want to be able to produce moreconsumption goods in the future." Of the labeled points on thediagram, which could depict the future production combinationSenator Long has in mind?
2.7 Construct a production possibilities curve (PPC) for anation facing increasing opportunity costs for producing food andvideo games. Show how the PPC changes given the followingevents.
A. A new and better fertilizer is invented.
B. Immigration occurs, and immigrantsâ labor can be employed inboth the agricultural sector and the video game sector.
C. A new programming language is invented that is less costly tocode and is more memory-efficient, enabling the use of smaller gamecartridges.
D. A heat wave and drought result in a 10 percent decrease inusable farmland.
2.9 In response to Senator Creighton's statement reported inProblem 2.8, Senator Long replies, "We must remain at our currentproduction combination if we want to be able to produce moreconsumption goods in the future." Of the labeled points on thediagram, which could depict the future production combinationSenator Long has in mind?
