On a bowed production possibilities frontier, as you move down along the 1 point curve O...

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On a bowed production possibilities frontier, as you move down along the 1 point curve O a. more of one good must be given up to receive one unit of the other good. O b. the available production technology does not change. O c. the opportunity cost increases. Od. All of the above are correct. Production possibilities frontiers are usually bowed outward. This is because 1 point a. the more resources a society uses to produce one good, the fewer resources it has available to produce another good. O b. the opportunity cost of producing a good decreases as more and more of that good is produced. c. of the effects of technological change. resources are specialized; that is, some are better at producing particular goods rather than other goods. On a bowed production possibilities frontier, as you move down along the 1 point curve O a. more of one good must be given up to receive one unit of the other good. O b. the available production technology does not change. O c. the opportunity cost increases. Od. All of the above are correct. Production possibilities frontiers are usually bowed outward. This is because 1 point a. the more resources a society uses to produce one good, the fewer resources it has available to produce another good. O b. the opportunity cost of producing a good decreases as more and more of that good is produced. c. of the effects of technological change. resources are specialized; that is, some are better at producing particular goods rather than other goods.

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D All of the above are correct D Resources are specia... View the full answer