Final answer:
If the amount of land available to accompany increases, the production possibilities curve (PPC) will increase. With increased land, more goods and services can be produced and the economy can operate at a higher level of output.
Step-by-step explanation:
If the amount of land available to accompany increases, the production possibilities curve (PPC) will increase.
The PPC illustrates the maximum combination of goods and services that can be produced given a limited amount of resources. When there is more land available, it means that there are more resources for production, which will result in an expansion of the PPC. This means that more goods and services can be produced and the economy can operate at a higher level of output.
An increase in land availability for a company results in an increase in the production possibilities curve. Various factors such as fines, lawsuits, or regulatory requirements can shift the market supply curve, typically to the left in cases of increased costs, affecting the equilibrium price and in most cases causing it to rise. Equilibrium price and quantity are influenced by changes in market demand and supply.