Refer to Exhibit 2-6. Which graph depicts a discovery of a new
cheap source of energy that assists in the production of both good
X and good Y?
Homework Answers
The answer to this question is OPTION C: Figure 1
With a discovery of new cheap source of energy that assists in the production of both good X and good Y, there is an expansion in resource base available with the economy. Hence, the production capacity as a whole increases and PPF shifts outward.
Now, the question arises whether it would be a parallel shift or not. Since, nothing is mentioned whether Good X or Y would be more efficiently produced by the new substance, we assume it will benefit both the goods equally. Hence, it will be a parallel shift
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Refer to Exhibit 2-6. Which graph depicts a discovery of a new
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