Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 2 - Part I - Thinking Like an Economist - Quick Check Multiple Choice: 4

Answer

c. move the economy along the production possibilities frontier.

Work Step by Step

When society realizes the benefit of producing more hot dogs, it allocates resources previously used to make hamburgers to produce hot dogs. This then shifts the economy toward hot dogs on the PPF.
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