Which of the following distinguishes a "straight-line" production possibilities curve from one that is "bowed out"?
A) A straight-line production possibilities curve exhibits increasing opportunity costs, whereas a bowed production possibilities curve does not.
B) A straight-line production possibilities curve exhibits decreasing opportunity costs, whereas a bowed production possibilities curve does not.
C) A straight-line production possibilities curve exhibits constant opportunity costs, whereas a bowed production possibilities curve does not.
D) A straight-line production possibilities curve is upward sloping, whereas a bowed production possibilities curve is not.
Correct Answer:
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Q83: Inefficiency is best illustrated by which of
Q84: Exhibit 3-8 Q85: Along a production possibilities curve that is Q86: Which of the following is a reason Q87: Exhibit 3-8 Q89: Along a straight-line production possibilities curve: Q90: If an economy is operating inside its Q91: The concavity (bowed-out shape) of the production Q92: Exhibit 3-9 Q93: An inefficient use of resources can be 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
A)the opportunity
