As a society produces more and more of one good,it must give up increasing amounts of the alternative good.This demonstrates the
A) law of demand
B) convexity of the production possibilities frontier
C) law of increasing opportunity cost
D) principle of productive inefficiency
E) effects of shifts in the level of technology
Correct Answer:
Verified
Q43: Suppose that an economy produces civilian goods
Q44: The law of increasing opportunity cost says
Q45: The concave shape of the production possibilities
Q46: Figure 2-10 Q47: A country currently is using all its Q49: Assume that society is operating on its
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