The first principle of economics discussed in Chapter 1 is that people face trade-offs. Use a production possibilities frontier to illustrate society’s trade-off between a clean environment and high incomes.
a. Show what happens to the frontier if engineers develop an automobile engine with almost no emissions.
b. What do you suppose determines the shape and position of the frontier? (5 Marks) pair of shorts was $80 for the last six months of last year. On January first, the price increased by 20%. After the price increase, an employee bought these shorts with 10% employee discount. What price did the employee pay? How much will the employee pay without employee discount?
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xgxygh k hxtfu. cwhat do you do supposed remind in shape and position of 15 Mai ko Priya short of $1 ITI last six month and year on January
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The shape and position of the frontier depend on how costly it is to maintain a clean environment the product of the environmental industry. Gains in environmental productivity, such as the development of a no-emission auto engine, lead to shifts of the production- possibilities frontier
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