If the opportunity cost of producing an additional good is always the same to residents of a nation, no matter how many units they produce, the production possibilities frontier would be a convex curve.
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Q12: If one nation-s production possibilities frontier is
Q13: Absolute advantage exists when residents of one
Q14: The value of each and every alternative
Q15: The slope of a line tangent to
Q16: The opportunity cost of producing an additional
Q18: Without trade, the production possibilities frontier also
Q19: Absolute advantage is the term for a
Q20: Absolute advantage is required for residents of
Q21: In country A, the opportunity cost of
Q22: The possession of redistribution advantage in the
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