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Oh, dude, PPC is concave to the origin because of the law of diminishing returns. As you produce more of one good, you have to give up more and more of the other good, which makes the curve bend inward. It's like when you eat too much Pizza and eventually the joy of each additional slice starts to decline.
What else can I help you with?
Why is the ppf concave to the origin?
because it has increasing opportunity costs
What does a linear ppc curve imply about opportunity costs and inputs to production?
A linear production possibility curve (PPC) implies constant opportunity costs, meaning that the trade-off between two goods remains the same regardless of how much of each good is produced. This suggests that the inputs to production can be easily substituted for one another without losing efficiency. In contrast to a concave PPC, which indicates increasing opportunity costs, a linear PPC reflects a scenario where resources are perfectly adaptable for producing either good.
Assume that a change in government policy results in greater production of both consumer goods and investment goods?
this economy's ppc is convex to the origin
Why is ppc convex to origin?
because all factors of production cannot be equally efficiently be used to produce one product than the other...
What is the most common shape of a production possibility curve Explain why this is so?
The most common shape of a Production Possibility Curve (PPC) is a concave bulging in towards the origin (or a quarter circle from one axis to the other.) This is due to the fact that as the production in one goods increase, the opportunity cost of producing the extra of that good (or the amount of Good B that it has to give up) become less.
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.
What is the origin of the word concave?
The word concave is derived from the Latin word concavus, from cavus, meaning cave.
Why is the ppf concave to the origin?
because it has increasing opportunity costs
What is the implication when ppc being concave?
When a production possibilities curve (PPC) is concave, it implies that as the economy moves from producing more of one good to producing more of the other, the opportunity cost of producing each additional unit increases. This suggests that resources are not equally productive in producing different goods, leading to diminishing returns. It also indicates that the economy is operating under the conditions of scarcity and trade-offs.
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
What does ppc on gold jewelry mean?
PPC is a makers mark, identifying who made the item. I have not been able to identify the maker it is used by, though, and would require further info on the origin of the piece in question to learn more. PPC stands for Princess Pride Creations out of Chicago, IL.
What is 'ppc' trademark printed on the jewerlry means?
PPC is a makers mark, identifying who made the item. I have not been able to identify the maker it is used by, though, and would require further info on the origin of the piece in question to learn more. PPC stands for Princess Pride Creations out of Chicago, IL.
Assume that a change in government policy results in greater production of both consumer goods and investment goods?
this economy's ppc is convex to the origin
Why is ppc convex to origin?
because all factors of production cannot be equally efficiently be used to produce one product than the other...
What is the most common shape of a production possibility curve Explain why this is so?
The most common shape of a Production Possibility Curve (PPC) is a concave bulging in towards the origin (or a quarter circle from one axis to the other.) This is due to the fact that as the production in one goods increase, the opportunity cost of producing the extra of that good (or the amount of Good B that it has to give up) become less.
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.
