The bowed-out shape of the production possibilities frontier can be explained by the fact that
a. scarcity is a fact of life.
b. economic growth is always occurring.
c. the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.
d. an assumption that is made in constructing a production possibilities frontier is that tradeoffs are unimportant.
Answer: C
Macroeconomics
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