Table 2-1
The following table contains some production possibilities for an economy for a given month.

-Refer to Table 2-1.If the production possibilities frontier is bowed outward,then "?" could be

Question

Table 2-1
The following table contains some production possibilities for an economy for a given month.
 
-Refer to Table 2-1.If the production possibilities frontier is bowed outward,then "?" could be

Quizplus · Accepted Answer

If the production possibilities frontier is bowed outward, it means that the opportunity cost of producing a good increases as the production of that good increases. This implies that the economy has increasing marginal opportunity costs. Given the production possibilities in Table 2-1, the only option that fits this description is D) 250, as producing the 250th unit of either good requires sacrificing a relatively large amount of the other good. Therefore, D) 250 is the best choice.

Table 2-1 The Following Table Contains Some Production Possibilities for an Economy