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​How would a technological change that increases the production of only pretzels affect the production of chips? Explain.​

Sagot :

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Answer:

there will be less production for chips so the price would go high and nobody would buy the chips

Explanation:

As a result of a technological change, there would be an increase in the production of pretzels.

Due to the fact that resources available for production are limited, an increase in the production of pretzels would lead to a reduction in the production of chips.

As a result, of a decrease in the production of chips, the prices of chips would increase

The Production possibilities curve displays the various combination of two goods or services a country can produce when all its resources are fully utilised.

Technological advancement leads to an outward shift of the production possibilities curve

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