Answer :
Final answer:
The widespread use of a new type of chemical fertilizer can lead to increased agricultural productivity, shifting the production possibilities frontier outward. This indicates that the economy can now produce more goods than before, enhancing growth. Overall, it allows for greater resource efficiency and a potential rise in living standards.
Explanation:
Impact of New Chemical Fertilizer on Production Possibilities Frontier
The production possibilities frontier (PPF) represents the maximum output levels of two goods that an economy can achieve given its resources. When a nation widely adopts a new type of chemical fertilizer, several key changes occur that can shift the PPF.
- The increased agricultural productivity enables farmers to produce more food, thereby potentially allowing for greater overall output.
- As food production rises, the economy may experience a shift outward in the PPF, indicating that the country can now produce more of both goods (food and other goods) than it could before.
- This can lead to higher economic growth and improve the standard of living, as resources are utilized more efficiently.
For instance, if a country can grow double the amount of food with the same amount of land and labor after using the new fertilizer, it fundamentally changes the constraints represented by its PPF.
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