Identify which “good” should be placed on each axis in order to construct the production possibility frontier.

Question: Evidence accumulates that the use of chemical fertilizers, which increases agricultural productio…

(6 bookmarks)

Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality.

A)   Identify which “good” should be placed on each axis in order to construct the production possibility frontier.

B)   Discuss THREE possible impacts of  an improved fertilizer  on the production possibility frontier from part a.​You are given a scenario and you need to:

1) decide how to construct the PPF. Based on scenario you need to determine which good should be placed on the x-axis and which on the y-axis. (No need to draw the graph just an explanation)

2) Once you have constructed the PPF you are told there is an improved fertilizer. This will impact the PPF. You need to explain how the PPF is impacted based on the change

Solution

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