Business, 28.01.2020 00:31 ayoismeisjjjjuan
Specialization and production possibilities suppose the united kingdom produces only tablets and smartphones. the resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally useful in producing both smartphones and tablets. the shape of the united kingdom's production possibilities frontier (ppf) should reflect the fact that as the united kingdom produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone increases the following graphs show two possible ppfs for the united kingdom's economy: a straight-line ppf (ppf1) and a bowed-out ppf ( ppf2).figure: 4 graphs are shown
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