g A typical concave (bowed out from the origin) production possibilities curve implies Multiple Choice that economic resources a

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g A typical concave (bowed out from the origin) production possibilities curve implies Multiple Choice that economic resources a

re unlimited. that society must choose among various attainable combinations of goods. decreasing opportunity costs. that society is using a market system to allocate resources.

Business

1 answer:

nydimaria [60] · Answer 1 · 2022-10-17T10:42:06+03:00

Answer:

that society must choose among various attainable combinations of goods

Explanation:

The Production possibilities curve is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.

The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.