The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that: a. resources are not perfectly adaptable to the production of all goods. b. a curve makes it easier to illustrate the concepts of scarcity and prices than a straight line. c. the frontier will shift outward over time. d. output eventually reaches a maximum and then declines. e. early economists began drawing them in this way and the convention has continued throughout the years.

The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that: a. resources are not perfectly adaptable to the production of all goods. b. a curve makes it easier to illustrate the concepts of scarcity and prices than a straight line. c. the frontier will shift outward over time. d. output eventually reaches a maximum and then declines. e. early economists began drawing them in this way and the convention has continued throughout the years.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 9P

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