Ask Question
9 June, 01:49

Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length?

+5
Answers (1)
  1. 9 June, 03:57
    0
    I believe the answer is it's shape.

    As an economy devotes more of its resources to a certain tyoe of product, the economy becomes less efficient becaucreatescreate a lot of opportunity cost by not using other available resources. This make the shape of production possibilities curve become bowed-out
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers