Multiple Choice
The reason that the production possibilities curve is usually a bow-shaped curve instead of a straight line is that
A) it makes it easier to illustrate the concepts of scarcity and prices with a bow-shaped curve than it is with a straight line
B) early economists began drawing them in this way and the convention has continued throughout the years
C) output eventually reaches a maximum and then declines
D) resources are not perfectly adaptable to the production of all goods
Correct Answer:
Verified
Correct Answer:
Verified
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