The production possibility curve is bowed outward from the origin because of:
A) the law of decreasing opportunity costs.
B) the finite nature of the resource base.
C) inefficiency.
D) the changes in the opportunity cost due to different efficiencies of the same resource in different use.
E) unemployment.
Correct Answer:
Verified
Q43: Narrbegin Exhibit 2.5 Production possibilities frontier
Q46: Exhibit 2-6 Production possibilities frontier data
Q47: Exhibit 2-8 Production possibilities frontier data
Q47: Narrbegin Exhibit 2.7 Production possibilities frontier
Q48: Exhibit 2-8 Production possibilities frontier data
Q49: Narrbegin Exhibit 2.6 Production possibilities frontier
Q50: Exhibit 2-8 Production possibilities frontier data
Q55: Narrbegin Exhibit 2.4 Production possibilities curve
Q58: The law of increasing opportunity costs states
Q79: When the production possibilities curve is bowed
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