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Production possibilities frontier representing the economy

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Reference no: EM131651668

Draw a production possibilities frontier representing the economy's possible production of milk and eggs. Now, show what will happen to the frontier or the production point under each of the following circumstances. Use a separate graph to illustrate each situation.

a. efficient outcome

b.recession causes unemployment

c. cows and chickens reproduce

d. surgeon announces drinking water prolongs life

e. cows are infected with disease 1/3 die

f. chickens are infected with disease 1/2 die

g. production increase due to good nutrition

Reference no: EM131651668

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