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A straight-line production possibilities boundary differs from a concave boundary in which of the ...

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A straight-line production possibilities boundary differs from a concave boundary in which of the ...

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.

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Microeconomics

Edition: 17^th

Author: Ragan

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Brilliant ツ

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This helped my grade so much Perfect

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