A typical bowed-out production possibility frontier between two goods,guns and butter,shows that the opportunity cost of butter in terms of guns increases as more butter is produced.This implies that the opportunity cost of guns in terms of butter decreases as more guns are produced.

Opportunity Cost

The monetary loss of relinquishing the best subsequent option upon deciding.

Bowed-out Production Possibility Frontier

A production possibility frontier that is concave to the origin, indicating increasing opportunity costs as production of one good is increased.

Guns

Firearms used for a range of purposes, including defense, hunting, sports, and as weapons in conflicts.