Production possibilities frontiers are usually bowed outward.This is because
A) the more resources a society uses to produce one good, the fewer resources it has available to produce another good.
B) it reflects the fact that the opportunity cost of producing a good decreases as more and more of that good is produced.
C) of the effects of technological change.
D) resources are specialized; that is, some are better at producing particular goods rather than other goods.
Correct Answer:
Verified
Q148: In a certain economy,jam and bread are
Q150: The country of Aceland produces two goods,televisions
Q150: Economists believe that production possibilities frontiers
A)never have
Q154: Table 2-2
The following table contains some production
Q157: Economists believe that production possibilities frontiers are
Q158: Table 2-1
The following table contains some production
Q158: Suppose an economy produces two goods,food and
Q159: Table 2-3
Production Possibilities for Libraryland

Q160: A production possibilities frontier can shift outward
Q171: A certain production possibilities frontier shows production
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents