The concave shape of a production possibilities frontier showing possible output levels of good A and good B indicates that if the economy produces more and more of good B,
A) larger and larger amounts of good A must be sacrificed
B) smaller and smaller amounts of good A must be sacrificed
C) more of good A will be produced
D) the amount of resources available in the economy must be increased
E) there must be an improvement in technology
Correct Answer:
Verified
Q129: Exhibit 2-5 Q130: Along a bowed-out production possibilities frontier, as Q131: Exhibit 2-6 Q132: A production possibilities frontier will be bowed Q133: Exhibit 2-7 Q135: The bowed-out shape of the production possibilities Q136: Points inside the production possibilities frontier represent Q137: Because resources are not perfectly adaptable to Q138: Any movement along the production possibilities frontier Q139: If the production possibilities curve is a 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![]()
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A)full