Shape and position of countrys production possibility curve

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Reference no: EM131212446

Explain the effect of each of these on the shape and position of the country's production-possibility curve:

a. A proportionate increase in the total supplies (endowments) of all factors of production.

b. New management practices that can be used in all industries to improve productivity by about the same amount in all industries.

c. New production technology that improves productivity in the wheat industry, with no effect on productivity in the cloth industry.

Reference no: EM131212446

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