A typical production possibility curve is downsloping line that is bowed out from the origin.
So the correct answer is an option (c).
The typical production possibilities curve is Multiple Choice an upsloping line that is bowed out from...
otes more of its res B. Cause its producti its production possibilities curve to shift outward in the future. on possibilities curve to shift inward in the future. urces to capital investment is likely to ase the sl ope of its production possibilities curve. its production possibilities curve slope of 6. The demand curve shows A. How B The C. How muc much people are willing and able to buy at every price amount that people are willing and able...
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve by: Multiple Choice Acquiring additional resources Employing more of its available resources Distributing incomes more equally Increasing the levels of wages and prices
The production possibility curve is bowed outward from the origin because of: Group of answer choices improper output mix. unemployment. the finite nature of the resource base. inefficiency. the law of increasing opportunity costs.
Why is a production possibilities frontier typically drawn as a curve, rather than a straight line? Explain why societies cannot make a choice above their production possibilities frontier and should not make a choice below it.
A the production possibilities frontier (PPF) is bowed outward as a result of 1)constant opportunity costs. 2)increasing opportunity costs. 3)decreasing opportunity costs. 4)scarcity. 5)choice.
1. A production possibilities frontier will have a curved or “bowed out” shape if: opportunity costs are increasing. resources are scarce. the economy is growing. opportunity costs are declining. 2. (Figure: Graph Interpretation) In the graph, _____ is the dependent variable and the slope of the line is _____. R; positive S; positive S; negative R; negative 3. If a price floor is set below the market price, it is: ineffective. effective. efficient. inefficient 4. Total surplus is calculated as:...
Why is the production possibilities frontier (PPF) typically bowed-outward? Under what circumstances would the PPF be a straight line?
In general, why are Production Possibilities Frontiers "bowed out" instead of straight lines? The land, labor, and capital used to make one good might not be suitable for making the other Goods and services are used in different amounts for making land, labor, and capital Some goods need more land, labor, and capital than others All productive resources are equally suited for producing all goods
Question 1 1 pts Refer to the figure below. The production possibilities curve ABCDE is bowed outward (concave) as opposed to bowed inward (convex). This is because Chairs OHNuovo o Desks Society does not value desks society faces no resource scarcity opportunity costs increase as more ticular Ebod is reduced of the law of one price D Question 2 Refer to the figure below. At point A, the cost of one more desk is Chairs ONWONOU Desks O chairs 1...
The fact that a society's production possibility frontier is bowed out, or concave to the origin of a graph, demonstrates the law of _____ opportunity cost. concave constant increasing decreasing