Biology Forums - Study Force

A straight-line production possibilities boundary differs from a concave boundary in which of the following ways?

▸ The straight-line boundary illustrates constant opportunity costs, whereas the concave boundary illustrates increasing opportunity costs.

▸ The straight-line boundary does not show scarcity, whereas the concave boundary does.

▸ The straight-line boundary shows opportunity cost, whereas the concave boundary does not.

▸ The concave boundary illustrates constant opportunity costs, whereas the straight-line boundary illustrates decreasing opportunity costs.

▸ A straight-line boundary is associated with a command economy, whereas a concave boundary is associated with a free-market economy.

Content hidden