Economy, asked by sksanjanakashyap1106, 1 month ago

2. What is PPC? Explain its different shapes.

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Answered by vandana200540

1

Answer:

The shape of a production possibility curve (PPC) reveals important information about the opportunity cost involved in producing two goods. ... When the PPC is concave (bowed out), opportunity costs increase as you move along the curve. When the PPC is convex (bowed in), opportunity costs are decreasing.

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