The Law of Increasing Relative Costs, Depicted by the Concavity

question 163

Multiple Choice

The law of increasing relative costs, depicted by the concavity of the production possibilities frontier, is most closely related to the

• A)downward slope of the demand curve.
• B)upward slope of the demand curve.
• C)downward slope of the supply curve.
• D)upward slope of the supply curve.

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Psychologist Erik H. Erikson, known for his theory on the psychosocial development of human beings.

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