The fact that a society's production possibility frontier is bowed out,or concave to the origin of a graph,demonstrates the law of _____ opportunity cost.
A)increasing
B)decreasing
C)constant
D)concave

Question

Quizplus · Accepted Answer

The bowed shape of the production possibility frontier indicates that as more of one good is produced, the opportunity cost of producing additional units of that good increases. This is known as the law of increasing opportunity cost.

The Fact That a Society's Production Possibility Frontier Is Bowed