What are the characteristics of PPC ?

1.	What are the characteristics of PPC ?
Answer» (i) The production possibility curve slopes downwards to the right indicating that the economy has to sacrifice ,more and more amount of the other good per unit increase in the production of the good in question. (ii) It is concave to the point of origin: it shows the operation of the law of increasing marginal opportunity cost.

Answer»

(i) The production possibility curve slopes downwards to the right indicating that the economy has to sacrifice ,more and more amount of the other good per unit increase in the production of the good in question.

(ii) It is concave to the point of origin: it shows the operation of the law of increasing marginal opportunity cost.

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What are the characteristics of PPC ?

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