Why is the production possibilities frontier usually a bow-shaped curve instead of a straight line?
A) because it is easier to illustrate the concepts of scarcity and prices with a bow-shaped curve than it is with a straight line
B) because early economists began drawing them in this way and the convention has continued throughout the years
C) because output eventually reaches a maximum and then declines
D) because resources are NOT perfectly adaptable to the production of all goods
Correct Answer:
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