If Additional Units of a Good Could Be Produced at a Constant

question 52

True/False

If additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be bowed outward (concave).

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Definitions:

Nearest Whole

The process of rounding a number to the closest whole number.

Decimal Place

The position of a number to the right of the decimal point, indicating its fractional part, used to measure precision.

Aloud

To say something in a voice that can be clearly heard; not silently or in a whisper.

Exponent

A mathematical notation indicating the number of times a number is multiplied by itself.