Figure 2-4 
Figure 2-4 shows various points on three different production possibilities frontiers for a nation.
-Refer to Figure 2-4. Consider the following events:
a. an increase in the patent protection period to 30 years
b. an increase of a nation's capital stock
c. an improved property rights system
Which of the events listed above could cause a movement from V to W?
Definitions:
Direct Labor-Hours
The number of labor hours spent by employees directly working on a product or service.
Machine-Hours
A measure of the amount of time a machine is operated, used for costing purposes, production scheduling, and capacity planning in manufacturing.
Forming Department
A division or section within a manufacturing plant where a specific, dedicated portion of the production process occurs, focusing on shaping or forming materials into parts or products.
Assembly Department
A sector within a manufacturing facility where individual components are assembled into final products.
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