The reason the production possibilities curve is bowed outward (concave) is
A) the law of increasing additional cost.
B) that technology is constantly changing.
C) that the number of resources is increasing.
D) that the economy has more capital goods than entrepreneurial effort.
Correct Answer:
Verified
Q241: Refer to the above figure. Given our
Q242: The law of increasing additional cost occurs
Q243: Refer to the above figure. We are
Q244: Refer to the above figure. Which of
Q245: Refer to the above figure. Which of
Q247: Refer to the above figure. Between points
Q248: A point on a production possibilities curve
Q249: Whenever the economy is producing the maximum
Q250: Refer to the above figure. Point c
Q251: Refer to the above figure. The shape
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