The goods in question are ice skates and downhill skis

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Reference no: EM131200213

Draw a Production Possibilities Frontier(s) to represent each of the following situations. The goods in question are ice skates and downhill skis.

An increase in the population provides more labor for the production of both goods.

A new process for making skis is developed in which a worker can make skis twice as fast.

An avalanche destroys 6 ice skate factories.

Minnesota experiences two weeks of 60 degree weather which melts all of the ice and snow in the area.

Reference no: EM131200213

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