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Why is Production Possibility Curve concave to the origin?
I have never heard that the demand curve must be concave. In fact, it is most often modeled as either linear or convex. Common convex specifications include log-linear and constant-elasticity demand functions. A number of empirical papers attempt to estimate the shape of the demand curve for specific products but I am not familiar with anyone concluding that demand is concave generally.
What is the opposite of Convex?
The opposite of convex is concave. Concave shapes have an inward curve, while convex shapes have an outward curve.
In which direction does a convex lens bend?
Convex lenses protrude or curve out, concave lenses curve in, like a cave...
What do convex lens look like?
Convex lens curve outwards.
Describe convex lens what do they do and how do they curve?
Convex lenses makes an object appear larger and closer. They curve inwards toward the center.
True or False the steeper the demand curve the less elastic the demand curve?
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.
What is the difference between concave and convex shapes?
Concave shapes curve inward, like a cave, while convex shapes curve outward, like a bump.
What is the difference between convex and concave shapes?
Convex shapes curve outward, like a dome, while concave shapes curve inward, like a cave.
Is a demand curve created from a demand schedule?
The data on a demand schedule can be plotted on a demand curve. Often, a demand schedule will be created before the creation of a demand curve, so as to allow for greater accuracy when plotting the demand curve.
What are the two types of curve mirrors?
The two types of curved mirrors are concave and convex mirrors. Concave mirrors curve inward and can create both real and virtual images, while convex mirrors curve outward and only produce virtual images.
What is the difference between a concave and a convex polygon?
A concave polygon has lines that curve inwards whereas a convex polygon has lines that curve outwards and they are found on and inside spheres
What is the opposite to a convex polygon?
An open curve, perhaps.
