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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Refer to the given diagram. As it associate to production possibilities analysis, the law of increasing opportunity cost is reflected in curve:1) A 2) B 3) C 4) D Q : Canada’s top three trading partners Name the Canada’s top three trading partners?
Name the Canada’s top three trading partners?
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