a production possibilities curve that is bowed outward (from the origin) represents the concept that\na…

a production possibilities curve that is bowed outward (from the origin) represents the concept that\na. opportunity costs are constant.\nb. greater quantities of one good can be produced without reducing the production of other goods.\nc. production of additional units of one good requires that increasing quantities of the other good be given up.\nd. resources are not scarce.

a production possibilities curve that is bowed outward (from the origin) represents the concept that\na. opportunity costs are constant.\nb. greater quantities of one good can be produced without reducing the production of other goods.\nc. production of additional units of one good requires that increasing quantities of the other good be given up.\nd. resources are not scarce.

Answer

Brief Explanations:

A bowed - out production possibilities curve represents the law of increasing opportunity cost. This means that as more of one good is produced, the opportunity cost in terms of the other good increases. That is, producing additional units of one good requires giving up increasing quantities of the other good.

Answer:

C. production of additional units of one good requires that increasing quantities of the other good be given up.