If the production possibilities frontier is ___ then opportunity costs are changing as more of one good is produced. bowed out bowed in non-linear

If the production possibilities frontier is bowed out, it indicates that as you produce more of one good, the resources are not perfectly adaptable to the production of both goods, leading to increasing opportunity costs. This means that to produce additional units of one good, you have to give up increasingly larger amounts of the other good – a reflection of the law of increasing opportunity costs. When considering real-world applications, this concept plays a huge role in resource allocation decisions for businesses and governments alike. For instance, if a farmer decides to grow more corn, the costs of not planting other crops like wheat or soybeans increase, affecting overall production and profitability. Understanding the bowed-out shape helps in making more efficient production choices!