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How does PPC graph of unemployment looks like?
There is no shift in the PPC.Only a dot is marked within the curve(Not on the curve) in the exact center of the two axes.The shape of the PPC is concave to the origin.
Law of increasing opportunity costs reflected in a PPC is concave to the origin?
The Law of Increasing Opportunity Cost that is shown in a Production Possibilities Curve is concave to the origin. This is because it shows the maximum gain of two products used in production.
Why is a star polygon concave?
because the point of origin would be on an outer point and around it the walls seem to cave in making it seem concave, in comparison to a regular polygon. When checking for concave polygons always compare what you are looking at to a regular polygon
Why is ppc concave to origin?
The PPC / PPF is concave to the origin because not all resources are perfectly suited to the production of both goods. This leads to increasing opportunity costs caused by diminishing returns. So as more and more resources are switched from the production of one good to the production of another good, returns diminish. This is the law of diminishing returns. This law is identified by the PPC being concave. As an example, consider production of root beers to mountain bikes. When most workers are making bikes, the few remaining in brewing buisness are the best brewers. If more bikes are to be produced, then the most skilled beer workers have to be shifted to bike manufacturing, thereby affecting the amount to beer significantly. A concave PPF is generally applicable in cases where the production requires specialization and varied raw products (eg. guns and butter as given on wikipedia.) In cases of similar goods, it is generally a straight line, eg. production of cakes and pastries.
What is the origin of the word concave?
The word concave is derived from the Latin word concavus, from cavus, meaning cave.
What impact does unemployment has on production possible curve?
Unemployment itself is one of the factors as to why the Production Possibility Curve (PPC) is what it is - a frontier where production cannot occur outside of. If unemployment increased, you would see decreases of the the PPC at any given point, that is, closer to the origin.
Why is the ppf concave to the origin?
because it has increasing opportunity costs
What you call the point when a curve changing from concave upward to concave downward?
The point when a curve changes from concave upward to concave downward is called the inflection point. It is the point where the curve transitions from being curved "upwards" to being curved "downwards" or vice versa. At the inflection point, the rate of change of the curve's curvature changes sign.
Is critical point also an inflection point?
no, a critial point is where the slope (or the derivitive) is 0. the inflection point is when the graph switches from concave up to concave down or vice versa
What is the definition of inflection point in math?
That's a point where the curve of a graph changes from "concave upward" to "concave downward", or vice versa.
What is a polygon that caves in at some point?
concave
If Jane is myopic. Will she need concave or convex lenses explain?
Concave. With myopia, the focal point of the eye is in front of the retina. Concave lenses increase the distance of the focal point so that it lies on the surface of the retina.
