V buc.populiweb.com Course Dashboard | My Account x Populi - Bethesda University BA 240-2: Week 2 (2/27-3/3) holds that as production of a good or service increases, the marginal opportunity cost of producing it increases as well. 1 Point O the law of increasing opportunity cost the law of decreasing opportunity cost O the law of opportunity cost O the law of diminishing returns 5) A major difference between a budget constraint and a production possibilities frontier is that the budget constraint is 1 Point circular in shape multilinear O curved shape because of the law of the diminishing returns a straight line 6) A production possibilities frontier defines 1 Point O the set of choices society faces for the combinations of goods and services it cannot produce given the resources available. None of these are correct O the set of choices society faces for the combinations of goods and services it can never produce given the resources available. O the set of choices society faces for the combinations of goods and services it can produce given the resources available. 7) The shape of the PPF is typically curved_ 1 Point Oinward