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Unformatted text preview: curve in because there would be fewer resources available to allocate to production of other goods. d. An increase in college tuition would decrease the production possibilities curve with regards to a specialized work field as there would be less highly educated students graduating but increase the production possibilities in some of the lower income jobs. e. With new technology the production possibilities would shift outward as the level of production would increase as the new technology would decrease the inefficiency of certain production...
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This note was uploaded on 02/19/2011 for the course ECO 2023 taught by Professor Barefield during the Spring '09 term at Tallahassee Community College.
- Spring '09