Question

The outward bowing shape of the production possibilities curve is due to ______. Multiple choice question. the law of diminishing marginal utility the diminishing marginal benefits the law of increasing opportunity costs the law of decreasing opportunity costs

Answer 1

The outward bowing shape of the production possibilities curve is due to C. increasing opportunity costs.

What is a production possibility curve?

The production possibility curve is the curve that shows the possible combinations of good that will effectively use the resources.

In this case, the outward bowing shape of the production possibilities curve is due to an increasing opportunity costs.

Learn more about production on:

brainly.com/question/2601596

#SPJ1