Why production possibilities curve concave
What is the reason that production possibilities curve concave? Elucidate.
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The Production possibility curve concave means that MRT raises as we move downward all along the curve. MRT rises since it is supposed that no resource is equally proficient in production of all goods. Since resources are transferred from one good to the other, less & less proficient resources have to be utilized. This increases cost and also MRT.
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When equilibrium moves from point a to point b, the simple market experiencing a reduce in supply is demonstrated within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Discover Q & A Leading Solution Library Avail More Than 1416328 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1947651 Asked 3,689 Active Tutors 1416328 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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