Question

State any one assumption for the construction of the curve that shows the possibilities of potential production of two goods in an economy?​

Answer 1

hey!!.

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• Increasing marginal opportunity cost or any other valid assumption.

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Answer 2

TVC is the total variable cost curve. It slopes upward left to right, as inverse S-shaped. This slope of TVC curve shows that the total variable cost increases initially at a decreasing rate as the total output increases and subsequently it increases at an increasing rate with the increase in the output.