Question

why is production possibility curve concave explain

Answer 1

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Production Possibility Curve is concave to the origin because to produce each additional unit of good X more and more unit of good Y is to be sacrificed.

Opportunity cost of producing every additional unit of good A tends to increase in terms of the loss of production of good Y.

because the factors of production are not perfect substitute of each other.

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Answer 2

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production possibility curve is concave to the origin because of increasing marginal rate of transpiration transformation example more and more uses of one commodity are sacrificed to gain and additional unit of another commodity .

MIT increasing because it is assumed that no resources is equally efficient in production of all good as resources are transferred from one good to another less and less efficient resource have to be employed this raise cost and raises Mrt.

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