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JAMB Economics 2003 Question 4

Question 4

Basic Concepts

Use the production possibility curve of a country represented in the diagram to answer this question. An improvement in technology will enable the country to produce at

Diagram for this question
  1. A.X
  2. B.V
  3. C.Z
  4. D.W
Show the answer and explanation

Answer: C (Z)

Explanation

Use the diagram. Better technology shifts the production possibility curve outwards, so a point beyond the present curve such as Z becomes attainable.