Question: Question 5 : In our class, we learned that the PPF could be either a straight line or a bow - shaped curve. We extensively
Question : In our class, we learned that the PPF could be either a straight line or a bowshaped curve. We extensively discussed the underlying reasons determining the shape of the PPF Which of the following choices correctly provides the reasons for the PPF to look like a bowshaped curve?
Group of answer choices
If opportunity cost stays the same as the economy shifts resources from one industry to the other, which happens Question : In our class, we learned that the PPF could be either a straight line or a bowshaped curve. We extensively discussed the underlying reasons determining the shape of the PPF Which of the following choices correctly provides the reasons for the PPF to look like a bowshaped curve?
Group of answer choices
If opportunity cost stays the same as the economy shifts resources from one industry to the other, which happens when the underlying resources are heterogenous and have differing qualities.
If opportunity cost is increasing as the economy shifts resources from one industry to the other, which happens when the underlying resources are homogenous and have the same qualities.
If opportunity cost is decreasing as the economy shifts resources from one industry to the other, which happens when the underlying resources are homogenous and have the same qualities.
If opportunity cost is decreasing as the economy shifts resources from one industry to the other, which happens when the underlying resources are heterogenous and have differing qualities.
If opportunity cost stays the same as the economy shifts resources from one industry to the other, which happens when the underlying resources are homogenous and have the same qualities.
If opportunity cost is increasing as the economy shifts resources from one industry to the other, which happens when the underlying resources are heterogenous and have differing qualities.
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