A production possibilities frontier is bowed outward when Group of answer choices the rate of tradeoff between the two goods being produced is constant. the rate of tradeoff between the two goods being produced depends on how much of each good is being produced. an economy is self-sufficient instead of interdependent and engaged in trade. the more resources the economy uses to produce one good, the fewer resources it has available to produce the other good.

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Business

Rocco Frost

17 January, 17:14

A production possibilities frontier is bowed outward when Group of answer choices the rate of tradeoff between the two goods being produced is constant. the rate of tradeoff between the two goods being produced depends on how much of each good is being produced. an economy is self-sufficient instead of interdependent and engaged in trade. the more resources the economy uses to produce one good, the fewer resources it has available to produce the other good.

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Gill · Answer 1

the rate of tradeoff between the two goods being produced depends on how much of each good is being produced.

Explanation:

the rate of tradeoff between the two goods being produced is constant.

If it were constant, the opportunity cost would be constant thus, the production possibilities frontier would be linear.

the rate of tradeoff between the two goods being produced depends on how much of each good is being produced.

That's because of the diminishing return theory.

As more input goes for the production of a certain good, there will be certain facotr which are as efficient as other.

If the economy does a better use of trade and diversify according to the efficiency of the factor will get more overall production with a mix of product than producing a single one