Матеріали курсу Principles of Economics I (ECO121_261) та відповіді на тести | elearn.nou.edu.ng

For what reason are production possibilities frontiers usually bowed outward?

It is because of the effects of technological change.

The more resources a society uses to produce one good, the fewer resources it has available to produce another good.

Resources are specialized, that is, some are better at producing particular goods rather than other goods.

100%

b. It reflects the fact that the opportunity cost of producing a good falls as one produces more and more of it.

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