Explain the economic implications of the technology shape of ppf conca – InterviewSolution

1.

Explain the economic implications of the technology shape of ppf concave shape

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It is because resources like labor or CAPITAL MUST be relocated to produce weapons. ... Most of the PPF curves are concave due to the INADAPTABILITY of the resources. The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases.

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