An outward bowed production possibilities curve illustrates

Name: An outward bowed production possibilities curve illustrates
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Question

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An outward bowed production possibilities curve illustrates the law of increasing additional cost, which states that as production of one good increases, the opportunity cost of producing an additional unit of that good increases. This results in a bowed shape of the curve, where it is more expensive to produce more of one good as we move along the curve.

An Outward Bowed Production Possibilities Curve Illustrates