Select Your Favourite
Category And Start Learning.

  • ICAR and TNAU E-Course Summarized

    Summarized Notes
  • Production Possibility Curve is concave to the origin when two products substitute each other at a/an (MPSC Main paper-2, 2017)

    Question: Production Possibility Curve is concave to the origin when two products substitute each other at a/an (MPSC Main paper-2, 2017)

    Options:

    Constant rate
    Increasing rate
    Decreasing rate
    Both (1) and (2)

    ✅Explanation: A Production Possibility Curve (PPC) is concave to the origin when there is an increasing opportunity cost. This means that as you produce more of one good, you have to give up increasing amounts of the other good. This occurs when resources are not perfectly adaptable between the production of the two goods.
      0
      Your Cart
      Your cart is emptyReturn to Shop