Question

2. Determine MRT from following data and predict the shape of PPC for it. Whether it will be concave or straight line. Production Possibilities A B C D E F T- Shirts (Millions) 0 1 2 3 4 5 Cell Phones (1000) 90 80 70 60 50 40

Answer 1

Answer:

Explanation: An economy can increase the production of one good without reducing the output of another good if... An economy can increase the production of one good without reducing the output of another good if: there are no unemployed resources and the economy is operating within the production possibilities frontier.