A bowed production possibilities curve is consistent with
A) a decreasing opportunity cost.
B) a technologically inefficient society.
C) the overutilization of productive resources.
D) highly specialized resources.

Question

Quizplus · Accepted Answer

A bowed-out (concave) production possibilities curve indicates increasing opportunity costs, which often result from the use of highly specialized resources that are not equally efficient in producing all goods.

A Bowed Production Possibilities Curve Is Consistent with