Show the effect of improvement in technology on production possibility curve
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New and better technology will lead to out world shift in production possibility curve. It means that more goods can be produced with the same amount of resources. Any improvement in techno will lead to more output inemurated by an outward shift in production possibility curve.
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Answer:
New and better technology will lead to out world shift in production possibility curve. It means that more goods can be produced with the same amount of resources. Any improvement in techno will lead to more output inemurated by an outward shift in production possibility curve.
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