Solved: Production possibilities frontier, Business Management

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Production possibilities frontier

Assignment:

Question 1. The country of Ruritania produces widgets and gizmos. Their current production possibilities frontier (PPF) is depicted below. What would their PPF look like if there were a technological advance that allowed them to produce the goods using only two-thirds of the resources per gizmo andThe country of Ruritania produces widgets and gizmos. Their curre one-half per widget?

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Business Management: Production possibilities frontier

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