Increasing marginal opportunity cost means that the production possibility curve is:
A. bowed in so that for every additional unit of one good given up, you get fewer and fewer units of the other good.
B. bowed in so that for every additional unit of one good given up, you get more and more units of the other good.
C. bowed out so that for every additional unit of a good given up, you get fewer and fewer units of the other good.
D. bowed out so that for every additional unit of one good given up, you get more and more units of the other good.
Answer:C
Increasing marginal opportunity cost means that the production possibility curve is:
A. bowed in so that for every additional unit of one good given up, you get fewer and fewer units of the other good. B. bowed in so that for every additional unit of one good given up, you get more and more units of the other good. C. bowed out so that for every additional unit of a good given up, you get fewer and fewer units of the other good. D. bowed out so that for every additional unit of one good given up, you get more and more units of the other good.
Explanation: Increasing marginal opportunity cost means that as you continue to give up equal amounts of one good, you obtain less and less of the other good.