What is production possibility curve?explain with …
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Posted by Dipankar Daimari 5 years, 6 months ago
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Yogita Ingle 5 years, 6 months ago
Production Possibility Curve (PPC) is concave to the origin because of the increasing opportunity cost. As we move down along the PPC, to produce each additional unit of one good, more and more units of other good need to be sacrificed. That is, as we move down along the PPC, the opportunity cost increases. And this causes the concave shape of PPC.
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Khushi Varshney 5 years, 5 months ago
MicroEconomics is no more in class 12th syllabus.
By the way, PPC (production possibility Curve) is a curve that shows the combination of two goods which can be produced at the given level of resources and technology.
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