The production possibilities frontier has a tendency to bow outward from the origin.
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Q37: Although finished goods are scarce, the inputs
Q38: Opportunity cost always arises when a trade-off
Q39: Monetary costs and opportunity costs are always
Q40: An optimal choice can be characterized as
Q41: The negative slope of a production possibilities
Q43: As more of a good is produced,
Q44: A society can occasionally produce at a
Q45: Some economies have production possibilities frontiers that
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