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(Solved): Refer to Figure 2-4, Graph (a) and Graph (b). Which of the following is not a result of the shift o ...
Refer to Figure 2-4, Graph (a) and Graph (b). Which of the following is not a result of the shift of the economy's production possibilities frontier from Graph (a) to Graph (b)? The trade-off between the production of tractors and trucks changes. Production of 2 tractors and 2 trucks becomes efficient. The opportunity cost of a truck is higher at all levels of truck production. Production of 3 tractors and 3 trucks becomes possible.