A farm grows soybean and produces chickens The opportunity cost of producing each of these products increases as

Question

A farm grows soybean and produces chickens. The opportunity cost of producing each of these products increases as

more of it is produced.

Draw the farm’sPPF. Label it PPF0.

The farm adopts a new technology which allows it to use fewer resources to produce soybeanproducesoybean.

Draw a PPF that illustrates the impact of the new technology. Label it PPF1.

PPF0.
Soya
bean
s
(bush
els
per
year)
5
5 4 3 2 1 0 100 200 300 400 500 600 When technology is advanced, there is a gradual increase in the production.
PPF1.
Soya
bean
s
(bush
els
per
year)
5
5 4 3…
Business