The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that
a. it makes it easier to illustrate the concepts of scarcity and prices with a bow-shaped curve than it is with a straight line
b. early economists began drawing them in this way and the convention has continued throughout the years
c. output eventually reaches a maximum and then declines
d. resources are not perfectly adaptable to the production of all goods
e. the frontier will shift outward over time
Question 2
The production possibilities frontier represents all desirable combinations of two goods
a. True
b. False
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