How will a new technological development affect the production possibility frontier?

Answer by  swaash (37)

For the last two decades, the use of technology in the production sector has changed beyond recognition. Access to technology across the whole country has boosted production in terms of state-of-the-art equipment combined with human skills, hence increasing efficiency in bulk and timely production.

Answer by  makingmoney (110)

As new technologices emerge many will assist production in varying ways. The technology advance may be a faster way to produce graphics, increase injection molding output or enhance the line by removing a step and retaining or increase the output. There could be less associated cost for producing the same product or service.