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(Solved): 1- Consider the following production possibilities frontier for Country X. a. What happe ...



1- Consider the following production possibilities frontier for Country X. a. What happens to the opportunity cost of producing capital goods when the economy moves from point B to point C? i.What does this tell you about the adaptability of resources to both the production of consumer goods and capital goods? b. Which point represents a currently unattainable production combination? i.What are two scenarios that would allow Country X to produce at this unattainable point? c. Which point potentially represents a scenario with high levels of unemployment? d. Assume that the country is currently producing at point E. What would the country need to do in order to produce at point C? e. If there is an increase in the number of available resources in Country X, what would happen to the PPF? i.Would point B remain on the PPF? ii.Would point E remain on the PPF?



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