The conversation between human and AI assistant.
Under what circumstances would the production possible curve bowed in towards the origin?
Can you tell me under what circumstances would the production possibility curve bowed in towards the origin?
Certainly! A production possibility curve may be bowed in towards the origin when resources are not equally efficient in producing different types of goods, resulting in a situation known as "increasing opportunity cost" where the opportunity cost of producing one good increases as we produce more of it.