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Mazyrski [523]
4 years ago
7

The reason the production possibilities curve is bowed outward (concave) is

Business
1 answer:
telo118 [61]4 years ago
7 0

Answer:

d. the law of increasing additional cost.

Explanation:

Production possibility curve is a graphical representation comparing combination of two products that can be produced with a given level of resources.

The production possibility curve curves outward because of the law of increasing additional cost that states: that once the factors of production (land, capita, and labor) are being used at maximum, any additional production will cost more.

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Answer:

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3.49%

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Define communism. What is the difference between communism and a command economy?
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