Why is the production possibility curve drawn as a bowed-out curve?

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asked Feb 2, 2021 151k views

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Dante Cullari · Answer 1 · 2021-02-07T20:18:21+0000

Answer:

he downward slope of the production possibilities curve is an implication of scarcity. The bowed-out shape of the production possibilities curve results from allocating resources based on comparative advantage.

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Why is the production possibility curve drawn as a bowed-out curve?

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