Figure 2-4 -In Figure 2-4,the Bowed-Out Shape of the Production Possibilities Curve

Multiple Choice

Figure 2-4
-In Figure 2-4,the bowed-out shape of the production possibilities curve indicates that

A) resources are being used efficiently.
B) resources are being used inefficiently.
C) production is efficient but the economy is experiencing allocative inefficiency.
D) some resources are relatively better at producing corn and others are better at producing cloth.