Imagine you have a problem to solve that has some similarities to problems you have previously solved. if focusing on the similarities leads you relatively quickly to a solution, you would be benefiting from the heuristic; on the other hand, if focusing on the similarities prevents or slows your finding a solution, you would be hindered by the barrier to problem-solving.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.

the invasive species was introduced due to commercial purpouses, as there was a demand for fur clothes and hence, a business opportunity connected to this product. actually, it was when the nutrias scaped, causing harm to the us ecosystems when they acquired the status of invasive species. in this case they have caused an environmental problem, but it could have affected also economic interests or even human health.