why is production possiblity curve called opportunity cost curve<br />
Answers
Explanation:
Production Possibility Curve is called the opportunity cost curve as it is the curve which shows the combinations of two goods and services that can be produced with fuller utilisation of a given amount of resources in the most efficient way and with a given production technology. ... PPC is concave to origin
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Answer:
Production Possibility Curve is called the opportunity cost curve as it is the curve which shows the combinations of two goods and services that can be produced with fuller utilisation of a given amount of resources in the most efficient way and with a given production technology. It is also known as Transformation curve. PPC is concave to origin.
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