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Business, 27.01.2020 21:31 ari9425

Suppose we can divide all the goods produced by an economy into two types: consumption goods and capital goods. capital goods, such as machinery, equipment, and computers, are goods used to produce other goods. suppose a technological advance occurs that affects the production of capital goods but not consumption goods. use the three-point curved drawing tool to show the effect of this technological change by drawing a new production possibilities frontier. properly label this curve. carefully follow the instructions above, and only draw the required objects.

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