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A truer depiction of the Production Possibility Frontier is actually one that is bowed out, or concave to the origin. What does this represent? This
A truer depiction of the Production Possibility Frontier is actually one that is bowed out, or concave to the origin. What does this represent? This shows that opportunity costs increase as you produce more of any product This shows that opportunity costs decrease as you produce more of any product This shows that opportunity costs stay constant as you produce more of any product This shows that opportunity costs don't matter while producing a product
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