EXPLAIN THE ECONOMIC IMPLICATION OF CONCAVE SHAPE

1.	EXPLAIN THE ECONOMIC IMPLICATION OF CONCAVE SHAPE
Answer» Answer: concave ppf implies: It implies that increasing marginal OPPORTUNITY COST or increasing MRT. Linear but DOWNWARD sloping ppf- it implies that of SACRIFICE of units of other good is constant that is MRT is constant when all RESOURCES are equally efficient.

Answer»

Answer:

concave ppf implies: It implies that increasing marginal OPPORTUNITY COST or increasing MRT. Linear but DOWNWARD sloping ppf- it implies that of SACRIFICE of units of other good is constant that is MRT is constant when all RESOURCES are equally efficient.

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EXPLAIN THE ECONOMIC IMPLICATION OF CONCAVE SHAPE

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