INO1 Principles of Economics Exam Version 3 Questions

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Question 1 of 5

Why are production possibility curves usually bowed out from the origin

A. Resources are homogeneous and can only be substituted on a one-to-one basis

B. Resources are heterogeneous and are imperfect substitutes for each other

C. Resources include capital and labor and cannot be substituted for each other

D. Resources include land and labor and are perfect substitutes for each other

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