Continue with the scenario of question 11-the new process in the United States and the resulting change
Question:
a. Show graphically and explain the effect on quantities produced, quantities consumed, and well-being in the rest of the world.
b. Explain as precisely as possible why well being changes in the rest of the world?
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a For the rest of the world the production possibility curve does not change but the equilibrium rel...View the full answer
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Yamini Pandey
I have done B. Sc and M. Sc (Industrial Chemistry) and I am gold medalist in M. Sc. Also, I am a research scholar pursuing my PhD in the field of waste water treatment since protecting environment is the need of the hour. Taking about my teaching experience, I am working with bachelors and masters students and have taught junior classes also.
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