arrow
arrow
arrow
The bowed shape of the production possibilities curve illustrates:
Question

The bowed shape of the production possibilities curve illustrates:

A.

Law of Increasing Marginal Cost

B.

The demand is relatively elastic

C.

The production is unattainable

D.

The production is inefficient

Correct option is A

The bowed shape of the production possibilities curve (PPC) represents the law of increasing marginal cost, which means producing more of one good requires sacrificing increasingly larger amounts of the other good.

Free Tests

Free
Must Attempt

Fundamentals of Food Safety: Definitions, Additives & Contaminants

languageIcon English
  • pdpQsnIcon30 Questions
  • pdpsheetsIcon30 Marks
  • timerIcon27 Mins
languageIcon English
Free
Must Attempt

UPSSSC Cane Supervisor Full Length Mock 01

languageIcon English
  • pdpQsnIcon100 Questions
  • pdpsheetsIcon100 Marks
  • timerIcon120 Mins
languageIcon English
Free
Must Attempt

CUET PG Agribusiness Management (ABM) Full Mock Test : 01

languageIcon English
  • pdpQsnIcon75 Questions
  • pdpsheetsIcon300 Marks
  • timerIcon90 Mins
languageIcon English
test-prime-package

Access ‘MP RAEO/RHEO/SADO’ Mock Tests with

  • 60000+ Mocks and Previous Year Papers
  • Unlimited Re-Attempts
  • Personalised Report Card
  • 500% Refund on Final Selection
  • Largest Community
students-icon
354k+ students have already unlocked exclusive benefits with Test Prime!
Our Plans
Monthsup-arrow