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16 Jan 2018
16) The bowed-out (concave) shape of a production possibilities frontier A) is due to technological change. B) is due to capital accumulation. C) reflects the existence of decreasing opportunity cost. D) is due to the equal usefulness of resources in all activities. E) reflects the existence of increasing opportunity cost.
16) The bowed-out (concave) shape of a production possibilities frontier A) is due to technological change. B) is due to capital accumulation. C) reflects the existence of decreasing opportunity cost. D) is due to the equal usefulness of resources in all activities. E) reflects the existence of increasing opportunity cost.
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