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Giving reason, comment on the shape of PPC based on the following schedules : |
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Answer» (a) Since MOC/MRT is rising, PPC is downward sloping concave to the origin. (b) Since MOC/MRT is constant, PPC is downward sloping straight line. (c) Since MOC/MRT is increasing, the PPC will be downward sloping concave to the origin. |
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