As a country moves up along its "bowed-out" production possibility curve, the opportunity cost of producing more of the good measured on the y-axis decreases.

Question

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As a country moves up along its "bowed-out" production possibility curve, the opportunity cost of producing more of the good measured on the y-axis actually increases due to the law of increasing opportunity costs, which states that producing more of one good will cost increasingly more units of another good.

As a Country Moves Up Along Its "Bowed-Out" Production Possibility