The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that: a. resources are not perfectly adaptable to the production of all goods. O b. a...


The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that:<br>a. resources are not perfectly adaptable to the production of all goods.<br>O b. a curve makes it easier to illustrate the concepts of scarcity and prices than a straight line.<br>c. the frontier will shift outward over time.<br>d. output eventually reaches a maximum and then declines.<br>e. early economists began drawing them in this way and the convention has continued throughout the years.<br>

Extracted text: The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that: a. resources are not perfectly adaptable to the production of all goods. O b. a curve makes it easier to illustrate the concepts of scarcity and prices than a straight line. c. the frontier will shift outward over time. d. output eventually reaches a maximum and then declines. e. early economists began drawing them in this way and the convention has continued throughout the years.

Jun 08, 2022
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