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21 April, 00:45

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

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  1. 21 April, 01:56
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    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
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