If a business finds its production is becoming more efficient as it increases production, the organization is experiencing what specialization advantage?

The bowed outward shape of the production possibilities frontier in the above figure indicates that

A) some resources are better suited for producing computers. B) the opportunity cost of producing more computers decreases as more computers are produced. C) computer technology is subject to the principle of decreasing costs. D) All of the above answers are correct.

The term "fixed cost" refers to the cost a firm incurs to produce a specific fixed quantity of output

Indicate whether the statement is true or false