Why production possibility curve be concave??
Answers
Answered by
4
It is because resources like labor or capital must be relocated to produce weapons. ... Most of the PPF curvesare concave due to the inadaptability of the resources. The law of increasing opportunity cost states: as theproduction of one good rises, the opportunity cost of producing that good increases.
27jenny:
there is no need to explain it in detail
Answered by
1
Heyyy mate....
thanks for the question.....
ur ans is here written below ...
PPC be concave due to it's decreasing opportunity cost...
hope it helps u....
thanks for the question.....
ur ans is here written below ...
PPC be concave due to it's decreasing opportunity cost...
hope it helps u....
Similar questions
Geography,
8 months ago
English,
8 months ago
Accountancy,
1 year ago
Math,
1 year ago
Biology,
1 year ago