Asked by
erika rendon
on Oct 09, 2024
Verified
The typical production possibilities curve is:
A) an upsloping line that is bowed out from the origin.
B) a downsloping line that is bowed in toward the origin.
C) a downsloping line that is bowed out from the origin.
D) a straight upsloping line.
Production Possibilities Curve
A graph that depicts the maximum possible output combinations of two goods that can be produced with available resources and technology, illustrating opportunity costs.
- Interpret the law of increasing opportunity costs through the shape of the production possibilities curve.
Verified Answer
IA
Learning Objectives
- Interpret the law of increasing opportunity costs through the shape of the production possibilities curve.
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