What would happen to the production possibility frontier

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Reference no: EM13153249

Part One: Assume that there are only two inputs (labor and natural resources) producing two goods (movies and gasoline) with no improvement in society's technology over time. Further, assume that natural resources are being rapidly depleted. What would happen to the Production Possibility Frontier over time? How would invention and technological improvement modify your answer?

Part two: Graph the PPF for each scenario to illustrate.

Reference no: EM13153249

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