Question
If a factory installs new production equipment that produces goods more efficiently than workers, __________.
the factory will only be able to produce a fixed number of good each day
its production possibilities curve will likely shift to the left
it may decide to produce less product to save electric costs.
its production possibilities curve will likely shift to the right
the factory will only be able to produce a fixed number of good each day
its production possibilities curve will likely shift to the left
it may decide to produce less product to save electric costs.
its production possibilities curve will likely shift to the right
Answers
GPT-4o mini
If a factory installs new production equipment that produces goods more efficiently than workers, **its production possibilities curve will likely shift to the right**.
This is because the introduction of more efficient equipment allows the factory to produce more goods with the same resources, thus increasing its overall production capacity.
This is because the introduction of more efficient equipment allows the factory to produce more goods with the same resources, thus increasing its overall production capacity.