Question: this is all the information i was given and im not sure what else to add 6. Imagine an economy where two goods are produced:
this is all the information i was given and im not sure what else to add
6. Imagine an economy where two goods are produced: Books and Hot Dogs. If the economy only produces books they can print 3 million books per year. If they only produce Hot Dogs they can make 6 million per year. Draw a Production Possibilities Frontier showing the possible levels of production of books and hot dogs. Johan Guttenberg has just invented the printing press. Either draw a new PPF or explain what happens. o Nathan from Coney Island invents a hot dog rotisserie cooking machine and hot dog bun slicer. Either draw a new PPF or explain what happens. There is a wave of immigration including skilled offset lithographers (who can use the printing press) and Hot Dog chefs. Either draw a new PPF or explain what happens
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