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11 December, 02:43

Which production possibilities frontier (PPF) reflects increasing opportunity costs?

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  1. 11 December, 05:53
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    bowed-out shape

    Explanation:

    Each type of good requires a different set of production resource. When the opportunity cost increases the production possibility frontiers tends to have a bowed-out shape. The reason for bowed-down shape is, goods need different production process and tools, that is why the firms have to choose which goods they want to produce and which are not feasible.
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