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A production possibilities curve is “bowed out,” or concave to the origin, because of:
a. competition
b. increasing opportunity cost/diminishing returns
c. inefficiency and unemployment
d. scarcity
Business Economics, Economics
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The reason that would cause movement along demand curve is 1) income of the buyers. 2) availability of close substitutes. 3) a change in the price of the good itself. 4) non of the above
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