Question

Assume that an economy produces only two goods, pizza and wings. Place the events in order, to show how an improvement in pizza-making technology would lead to an increase in wing production.

Answer 1

Answer:

Simplifying this problem we can think of this as a small industry or even a small shop.

Improving the pizza-making technology may improve the cost-benefit on making pizzas (by needing less time/resources to make each pizza for example) Now, thanks to this technology, there is a monetary benefit for the product. Now, with more money/time in the hands of the producers, they can invest it in the production of the other good (in this case the chicken wings). So thanks to the technology, they saved time and money that the inputted in the production of the wings, in this way increasing the wings production.

Answer 2

The population of the animals would decrease but more chicken wings and pizza would be everywhere which is great Bc who doesn’t like pizza and chicken wings