The fact that initial improvements in the health of cotton textile workers were far less costly to achieve than the final stages of compliance with OSHA regulations illustrates that typical production possibilities curves are
A) vertical.
B) horizontal.
C)bowed in.
D) bowed out.
E)upward sloping to the right.

Question

Quizplus · Accepted Answer

A bowed out production possibilities curve illustrates that as more of one good is produced, more and more of the other good must be given up. In the case of complying with OSHA regulations, initial improvements may be relatively easy and inexpensive to achieve, but as a company reaches the final stages of compliance, the costs and sacrifices required to achieve further improvements become increasingly steep, leading to a curved, bowed-out production possibilities curve.

The Fact That Initial Improvements in the Health of Cotton