Question

why PPC is concave and IC is convex????

Answer 1

The shape of a PPF is commonly drawn as concave to the origin to represent increasing opportunity cost with increased output of a good. Thus, MRT increases in absolute size as one moves from the top left of the PPF to the bottom right of the PPF.

They are convex to the origin. As the consumer substitutes commodity X for commodity Y, the marginal rate of substitution diminishes as X for Y along an indifference curve. ... It is convex to the origin. If the indifference curve is concave, MRSxy increases.

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Answer 2

Hey mate✌️✌️

Here Ur Answer ⤵️⤵️⤵️⤵️

⏩PPC (Production Possibility Curve) is Concave to the origin .

➡️ When a curve is concave to the origin ,it means that it has an increasing slope ,as we move along this curve ,from left to right .


➡️ Since slope of PPC =Marginal Opportunity Cost ,increasing slope implies increasing marginal opportunity cost .

Accordingly,it concluded that PPC is concave to the origin, because as more and more resources are shifted from opportunity 1 to opportunity 2 ,marginal opportunity cost tend to rise .


⏩IC (Individual Curve) is Convex to the origin.

➡️ Because the slope of individual curve tends to decline ,as we move along the individual curve from left to right .


✨ Hope this helps you ✨