If additional units of a good could be produced at a constant opportunity cost, the production
possibilities frontier would be bowed outward (concave).
Indicate whether the statement is true or false
FALSE
Economics
You might also like to view...
Economic resources used in the production process are called:
A) free gifts of the natural environment. B) factors of production. C) consumer items. D) money capital.
Economics
Keeping a $20 bill in your purse to purchase a movie DVD when it comes out next month means that money functions as a
A) medium of exchange. B) unit of account. C) standard of deferred payment. D) store of value.
Economics