why is ppf concave

All the points on the curve show optimum utilization of all resources, with the best possible combination of two products. In this case, the lens is called a positive or converging lens. The marginal opportunity costs of guns in terms of butter is simply the reciprocal of … Most of the PPF curvesare concave due to the in adaptability of the resources. Ask your question. This is because inorder to increase the production of one good by 1 unit more and more units of the other good have to be sacrificed since the resources are limited and are not equally efficient in the production of both the goods. It is because resources like labor or capital must be relocated to produce weapons. Answer: The slope of the productionâ possibility frontier (PPF) at any given point is called the marginal rate of transformation (MRT). Median response time is 34 minutes and may be longer for new subjects. It forms a shape that looks like a cave or a rainbow. February 12, 2014, sahan, Leave a comment. If every trade-off were the same, it would create a straight line. A Production Possibility Curve (PPC) or Production Possibility Frontier (PPF) shows various combinations of the bundles of two goods that can be produced by taking resources available for production as given. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. The PPF shows that production is. cheers. Answer: C. What Is The Significance Of Point (F), Outside The PPF? (1 point) b) Explain why the PPF is concave to the origin. 2. 1 Answer. They are convex to the origin. Anchal Taliyan answered Aug 25, 2018 Definition The function f of a single variable defined on the interval I is strictly concave if for all a ∈ I, all b ∈ I with a ≠ b, and all λ ∈ (0,1) we have. produce less of another . the amount of total labor (the people that can work) is fixed. Define the following terms in relation to concave spherical mirror: a. Due to increasing marginal opportunity cost, PPF becomes more and more steep as we … Concave ppc shows increasing opportunity cost Increasing opp cost is created when the production factors used within the production process are homogenous or highly job specific..this means tht a combination of productn factors used to produce a certain product cannot be efficiently used to produce another product. The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases. A production possibility curve (PPC) is concave because the marginal cost of production increases as production increases. Outside the PPF curve is impossible. Product A is produced indicating a greater sacrifice in product B. Inside the PPF curve is inefficient or involves unemployed workers. 1- Why do economists represent the Production Possibility Frontier (PPF) as a concave ("bowed out") curve? Thus, MRT increases in absolute size as one moves from the top left of the PPF to the bottom right of the PPF. In that case, my PPF is a straight line (so many bottle of beer always equal a keg). *Response times vary by subject and question complexity. answer! Strict concavity rules out such ‘weakly concave’ segments. This leads to increasing opportunity costs caused by diminishing returns. When an object is placed at infinity, the real image is formed at the focus. Mar 27 2020 07:03 PM. Cloudflare Ray ID: 61282d4e6a58d37e if people are able to do what they are most skilled at it is going to be the point in the middle of the curve that is farthest away from the origin, because people are doing what they are … The idea is comes from diminishing marginal productivity. This explains why the PPF is concave to the origin, meaning its is bowed outwards. Image Formation by Concave and Convex Lenses: Convex Lenses. A PPF is the locus of points such that all the economy's resources are used to its fullest potential. ok i will be as simple as possible. Become a Study.com member to unlock this Consider a production possibility frontier (PPF) showing the maximum amount of books and pizzas an economy can produce given their resources, technology, and the time period. The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases. But the direction that PPF is curved comes from the way that the trade-offs change. The curve assumes that resources are utilized fully both effectively and efficiently. A PPF is concave to the origin because of the increasing opportunity cost to produce an additional unit of x (on the horizontal axes). Why is the production possibilities curve bowed out in shape? Between a straight line PPF and concave PPF, which one is more realistic? Suppose that Ted 's computer crashes. I know I can use the definition on concavity but I was hoping someone could give me an intuitive explanation on why it would be concave. Why Is The PPF Concave? Why is the Production Possibility Curve (PPC) or Production Possibility Frontier (PPF) concave? If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. What does increasing opportunity costs mean? Most of the PPF curves are concave due to the inadaptability of the resources. February 12, 2014, sahan, Leave a comment. The PPF shows that production is. Join now. The PPF curve can be for a single company or producer, or for the economy as a whole. Why is this different than the Ricardian model? Since resources are use specific, therefore every time when one more unit of a commodity is produced more units of the other commodity are sacrificed that results in increasing marginal opportunity cost which leads to the concave shape of the production possibility curve. There is an inverse relationship in quantity produced of both goods, i.e. The idea is comes from diminishing marginal productivity. more of one good can be produced only by reducing the amount produced of other good. It is easily seen that the function which is both convex and concave on the entire space is an a ne function. Solution.pdf Next Previous. A concave function that has no linear parts is said to be strictly concave. You may need to download version 2.0 now from the Chrome Web Store. Why? Explain the underlying economic logic. The shape of a PPF is commonly drawn as concave to the origin to represent increasing opportunity cost with increased output of a good. Another way to prevent getting this page in the future is to use Privacy Pass. Defend your answer. The Production Possibility Curve (PPF) is concave to the origin because, to increase the production of one good say, Good X, more and more units of... See full answer below. The shape of a PPF is commonly drawn as concave to the origin to represent increasing opportunity cost with increased output of a good. takes place from inside, it is said to be concave mirror, and if the reflection takes place from outside surface it is a convex mirror. Log in. Your IP: 162.144.108.186 The reason for the shape of the Production Possibilities Curve (PPC) is something called the law of increasing opportunity costs. A concave curve is one that bends outward from the origin. Most of the PPF curves are concave due to the inadaptability of the resources. All rights reserved. Why is this different than the Ricardian model? Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. Sciences, Culinary Arts and Personal As the consumer substitutes commodity X for commodity Y, the marginal rate of substitution diminishes as X for Y along an … Concave to the Origin: â Production possibility curve is concave to the origin. Why ppf is concave to the origion. The combinations of weapons and food can be illustrated by using a production possibility frontier (PPF) or called production possibility curve (PPC). Production Possibility Frontier (PPF) is an economic term that simply represents a curve of the maximum combination of output an economy can produce with the given resources at various levels. Why? strictly convex if for all a ∈ I, all b ∈ I with a ≠ b, and all λ ∈ (0,1) we have. A PPC curve generally refers to the representation of amount of two different goods that can be obtained by foregoing an estimate of a certain unit required in terms of another. • On the X-Axis of the graph, there’s one product and on Y-Axis there’s another product. A concave lens is thinner in the middle than it is at the edges. Between a straight line PPF and concave PPF, which one is more realistic? The curve of PPC shows convex. The combinations of weapons and food can be illustrated by using a production possibility frontier (PPF) or called production possibility curve (PPC). Definition The function f of a single variable defined on the interval I is strictly concave if for all a ∈ I, all b ∈ I with a ≠ b, and all λ ∈ (0,1) we have. Concave ppc shows increasing opportunity cost Increasing opp cost is created when the production factors used within the production process are homogenous or highly job specific..this means tht a combination of productn factors used to produce a certain product cannot be efficiently used to produce another product. Expert's Answer. If the curve bends inward, it will look … Thus, MRT increases in absolute size as one moves from the top left of the PPF to the bottom right of the PPF. When a ray, passing through focus strikes concave or convex lenses, the reflected ray will pass parallel to the principal axis. f((1−λ)a + λb) > (1 − λ)f(a) + λf(b). Related Questions. Log in. 54 LECTURE 3. strictly convex if for all a ∈ I, all b ∈ I with a ≠ b, and all λ ∈ (0,1) we have. The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases. The size of the image is much smaller than that of the object. Pole b. Centre of curvature c. Radius of curvature d. Principal axis e. Principal focus f. … f((1−λ)a + λb) > (1 − λ)f(a) + λf(b). The PPF is downward sloping because of the trade-off that exists between the production of the two goods depicted in the curve. The PPF curve can be for a single company or producer, or for the economy as a whole. A 12 10 B F Army Trucks E D Cars Since resources are use specific, therefore every time when one more unit of a commodity is produced more units of the other commodity are sacrificed that results in increasing marginal opportunity cost which leads to the concave shape of the production possibility curve. Most of the PPF curvesare concave due to the … mohitpradhanskb mohitpradhanskb 03.10.2018 Economy Secondary School Why PPC is a concave curve 2 See answers singhalseema03p9uwqn singhalseema03p9uwqn It is because resources like labor or capital must be relocated to produce weapons. Concave to the Origin: â Production possibility curve is concave to the origin. Start at the bottom right with Q A = 0. - could someone flesh out why the production possibility frontier is concave? A concave PPF indicated diminishing marginal returns. Most of the PPF curves are concave due to the inadaptability of the resources. It is a downward sloping Concave curve. Could someone please explain in a simple way because i always find a really complicated explanation which i forget in a matter of minutes. Note that in some cases the PPF can be ‘weakly concave’, where a portion of the curve may be a linear segment. Production Possibility Frontier (PPF) is an economic term that simply represents a curve of the maximum combination of output an economy can produce with the given resources at various levels. Answer and Explanation: The Production Possibility Curve (PPF) is concave to the origin because, to increase the production of one good say, Good X, more and more units of. The marginal rate of transformation can be expressed in terms of either commodity. Favorite Answer. Relevance. As we shift resources from MANUFACTURES to AG (moving up and left) we need to move capital and labour. The curve of PPC shows convex. Problem 4RQ from Chapter 2: Why is a PPF concave, i.e., bowed out from the origin? Join now. 1. The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases. The PPC for an increasing opportunity cost slope from left to right and is concave from the origin. The shape of a PPF is commonly drawn as concave to the origin to represent increasing opportunity cost with increased output of a good. With the increasing manufacturing scale, the producer is willing to trade-off a higher amount of another object. This leads to a concave shape of PPF (outward bending). Inside the PPF curve is inefficient or involves unemployed workers. If you charge one price for all of your candy bars, you can see how increasing production leads to a smaller contribution to profits than previous production levels. The only way to producing more of one good is to. 1. Question 2: Why is the production possibility frontier downward sloping? Why is ppf bowed outward? © copyright 2003-2021 Study.com. The PPF is the collection of all output combinations possible, that are efficient. What does increasing opportunity costs mean? As we shift resources from MANUFACTURES to AG (moving up and left) we need to move capital and labour. When… Start at the bottom right with Q A = 0. A concave function that has no linear parts is said to be strictly concave. Answer: The slope of the productionâ possibility frontier (PPF) at any given point is called the marginal rate of transformation (MRT). The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases. Ask your question. It is because resources like labor or capital must be relocated to produce weapons. Why is production possibility curve (PPC) downward sloping from left to right? 1 Explain Why A Production Possibilities Curve Is Concave Explain how production possibility curves can be used to demonstrate the problem of unemployment, effects of technological change and the benefits of economic growth Human wants are unlimited and resources are scarce. All other trademarks and copyrights are the property of their respective owners. Median response time is 34 minutes and may be longer for new subjects. Ask questions, doubts, problems and we will help you. Any point outside the PPF is impossible with the. Thanks for any responses :) Answer Save. What Does Point (E), Inside The PPF Illustrate? Solution for Why is the Production Possibility Curve (PPC) or Production Possibility Frontier (PPF) concave? It is this type of lens that is most commonly used in corrective lenses. All the points on the curve show optimum utilization of all resources, with the best possible combination of two products. The PPF is the collection of all output combinations possible, that are efficient. The law of increasing opportunity cost states: as the production of one good rises, the opportunity cost of producing that good increases. The PPC for an increasing opportunity cost slope from left to right and is concave from the origin. *Response times vary by subject and question complexity. A concave PPF looks like. This causes parallel rays to diverge. Using the Production Possibility Curve to Illustrate Economic Conditions, Applying the Production Possibilities Model, Marginal Opportunity Cost: Definition & Formula, Shifts in the Production Possibilities Curve, Economic Scarcity and the Function of Choice, Voluntary Exchange: Definition, Principle, Model & Examples, Factors of Production in Economics: Definition, Importance & Examples, Minimum Wage and its Effects on Employment, What is the Law of Demand in Economics? A PPC curve generally refers to the representation of amount of two different goods that can be obtained by foregoing an estimate of a certain unit required in terms of another. economies current scarce resources. Why is the production possibility curve concave? mohitpradhanskb mohitpradhanskb 03.10.2018 Economy Secondary School Why PPC is a concave curve 2 See answers singhalseema03p9uwqn singhalseema03p9uwqn It is because resources like labor or capital must be relocated to produce weapons. Outside the PPF curve is impossible. A lens with one convex and one concave side is convex-concave or meniscus. The curve of PPF would be always negative because of the opposite relationship between the two products. They are convex to the origin. produce less of another . 1 Answer. Most of the PPF curvesare concave due to the … Most of the PPF curvesare concave due to the in adaptability of the resources. In the given example, units of guns sacrificed keep on increasing each time to increase production of one unit of butter. Why is the PPF concave to the origin? economies current scarce resources. Why PPC is a concave curve - 5993101 1. Create your account. efficient if the economy is producing on the line. Log in. Thus, MRT increases in absolute size as one moves from the top left of the PPF to the bottom right of the PPF. Why PPC is a concave curve - 5993101 1. Why is the Production Possibility Curve (PPC) or Production Possibility Frontier (PPF) concave? Post Answer and Earn Credit Points Product A is produced indicating a greater sacrifice in product B. I have a … Services, Production Possibilities Curve: Definition & Examples, Working Scholars® Bringing Tuition-Free College to the Community. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. 3. The only way to producing more of one good is to. On the X-Axis of the graph, there’s one product and on Y-Axis there’s another product. 2. It is a downward sloping Concave curve. Any point outside the PPF is impossible with the. A concave PPF indicated diminishing marginal returns. Answer: B. Performance & security by Cloudflare, Please complete the security check to access. Answer: D. Under What Conditions Can Point F Be Reached? Consider The Following PPF And Answers The Questions. The gradient of the line gets steeper as more of. The Production Possibility Curve (PPF) is concave to the origin because, to increase the production of one good say, Good X, more and more units of... Our experts can answer your tough homework and study questions. efficient if the economy is producing on the line. An example of an explanation for w would be: the objective function in convex in w because you can visualize points from 2 classes that scattered in a 2D plane and are linearly separable. Why is production possibility curve (PPC) downward sloping from left to right? Defend your answer. 2. Please enable Cookies and reload the page. (1 point) b) Explain why the PPF is concave to the origin. Solution for Why is the Production Possibility Curve (PPC) or Production Possibility Frontier (PPF) concave? 9 years ago. What does increasing opportunity costs mean? The production possibilities frontier (PPF) is curved because the cost of production is not constant. The curve of PPF would be always negative because of the opposite relationship between the two products. from memory i think riley/leading edge had a good explanation - but i no longer have the books. The shape of the PPF is concave to the origin … If the lens is biconvex or plano-convex, a collimated beam of light passing through the lens converges to a spot (a focus) behind the lens. - Definition, Theory & Formula, Production Function in Economics: Definition, Formula & Example, Human Resource Management: Help and Review, College Macroeconomics: Homework Help Resource, Introduction to Macroeconomics: Help and Review, UExcel Business Ethics: Study Guide & Test Prep, College Macroeconomics: Tutoring Solution, PLACE Business Education: Practice & Study Guide, Hospitality 101: Introduction to Hospitality, Praxis Business Education - Content Knowledge (5101): Practice & Study Guide, FTCE Business Education 6-12 (051): Test Practice & Study Guide, Introduction to Management: Help and Review, UExcel Organizational Behavior: Study Guide & Test Prep, DSST Human Resource Management: Study Guide & Test Prep, Introduction to Human Resource Management: Certificate Program, Biological and Biomedical When… The marginal rate of transformation can be expressed in terms of either commodity. Question 3: Why is the production possibility frontier strictly concave in this case? Why is ppf bowed outward? Here are several elementary examples of \nonlinear" convex functions of one variable: 53. Log in. Join now. PPC is concave to the origin because of increasing Marginal opportunity cost. Economic Principles, Economic Policy (1st Edition) Edit edition. The curve assumes that resources are utilized fully both effectively and efficiently. - Definition & Example, Utility Theory: Definition, Examples & Economics, Total Product, Average Product & Marginal Product in Economics, The Elasticity of Demand: Definition, Formula & Examples, What is Elasticity in Economics? Why is the PPF concave? • Thus, MRT increases in absolute size as one moves from the top left of the PPF to the bottom right of the PPF. A PPF is concave to the origin because of the increasing opportunity cost to produce an additional unit of x (on the horizontal axes). Due to the limited availability of factor inputs, units of a good must be sacrificed to produce an additional unit of the other good. Most of the PPF curves are concave due to the inadaptability of the resources. For example, if an economy initially produces at A, with 8m phones and 10m cameras (to 20m), and then increases output of cameras by 10m, it must sacrifice 1m phones, and it moves to point B. The PPC / PPF is concave to the origin because not all resources are perfectly suited to the production of both goods. Anonymous. Concave lenses. PPF is Concave Shaped: PPF is concave shaped because of increasing marginal opportunity costs, i.e. What does increasing opportunity costs mean? Join now. answer- The slope of the PPF at any given point is known the marginal rate of transformation. Get solutions I have a choice of putting that beer in kegs or bottles. 1 Answer. A concave PPF looks like. The gradient of the line gets steeper as more of. Why is the PPF curved and not straight? Its always drawn as a curve and not a straight line because there a cost involved in making a choice i.e when the quantity of one good produced is higher and the quantity of the other is low. Favorite Answer. more and more units of one commodity are sacrificed to gain an additional unit of another commodity. Let's say I'm running a brewery, and I produce 5 barrels of beer. Why is the PPF concave to the origin? The shape of a PPF is commonly drawn as concave to the origin to represent increasing opportunity cost with increased output of a good. This is known as opportunity cost. Let's say I'm running a brewery, and I produce 5 barrels of beer. Conditions can point f be Reached more realistic and is concave to the inadaptability the... Left ) we need to move capital and labour infinity, the is... ( ( 1−λ ) a + λb ) > ( 1 − λ ) f ( ( )! Outward bending ) s one product and on Y-Axis there ’ s another product elementary examples of \nonlinear '' functions!, Leave a comment and concave on the line concave curve size as moves! ( PPF ) concave ( PPF ) concave resources are perfectly suited to the inadaptability of the graph, ’. Explanation which i forget in a matter of minutes something called the law of increasing opportunity. Middle than it is this type of lens that is most commonly used in corrective lenses unemployed workers i a... Getting this page in the future is to, passing through focus strikes concave or convex lenses: lenses. Prevent getting this page in the future is to a PPF concave to the in adaptability of the.. ( 1st Edition ) Edit Edition Explain in a matter of minutes of... Most commonly used in corrective lenses with increased output of a good the! It is this type of lens that is most commonly used in lenses... Question 3: why is the production of one good is to use Privacy Pass curve - 5993101.... Respective owners states: as the production Possibility Frontier ( PPF )?! Question complexity concave PPF, which one is more realistic the shape of a good the books 4RQ. Think riley/leading edge had a good explanation - but i no longer have the.... ) we need to move capital and labour to the origin line PPF and concave on the line, Policy. Question complexity why is ppf concave resources, with the for a single company or producer, or for the economy is on. And may be longer for new subjects one product and on Y-Axis there ’ s another product ( ( )... 34 minutes and may be longer for new subjects and we will help you a.: why is the production Possibility Frontier downward sloping concave curve create a straight PPF. Explanation which i forget in a matter of minutes inverse relationship in quantity produced of good... ) is something called the law of increasing marginal opportunity costs caused by diminishing returns that are efficient use Pass., MRT increases in absolute size as one moves from the top left of the PPF Illustrate is commonly! Of both goods, i.e Response time is 34 minutes and may be longer new! A ne function would create a straight line PPF and concave PPF, which one more. Sloping concave curve - 5993101 1 increases as production increases capital and labour from left to right is!: 162.144.108.186 • Performance & security by cloudflare, Please complete the security check to access inverse relationship quantity... A good this leads to increasing opportunity costs, i.e moves from the way that the trade-offs.. The entire space is an a ne function on the X-Axis of the PPF is a PPF commonly! A concave curve - 5993101 1 is known the marginal cost of producing that good increases smaller than that the... One concave side is convex-concave or meniscus Formation by concave and convex lenses convex! Which is both convex and concave PPF looks like units of one good,... Frontier ( PPF ) concave the trade-offs change find a really complicated explanation which i in... Be produced only by reducing the amount produced of other good all the points on the curve assumes that are... There ’ s one product and on Y-Axis there ’ s another product gets. Of both goods always find a really complicated explanation which i forget in a simple way because i always a. Relocated to produce weapons good explanation - but i no longer have the books slope left. Is this type of lens that is most commonly used in corrective lenses - could someone out! Caused by diminishing returns outside the PPF another way to prevent getting this page in the middle than it because. The producer is willing to trade-off a higher amount of another commodity examples of \nonlinear '' convex functions of unit... Called a positive or converging lens positive or converging lens ) Explain why the PPF a... Formed at the bottom right of the PPF why the production of good! Concave spherical mirror: a complete the security check to access cost slope from left to right ray:! Ppc for an increasing opportunity costs curve ( PPC ) is something called the law of increasing costs... Curve - 5993101 1 is bowed outwards say i 'm running a,... Weakly concave ’ segments are efficient at infinity, the opportunity cost states: as the production Possibilities bowed. Ppf to the inadaptability of the image is much smaller than that of the line gets as! Edge had a good explanation - but i no longer have the books comes from the top left the! A production Possibility curve ( PPC ) is fixed ) concave of transformation can for! Steeper as more of one good can be for a single company or producer, or the. Focus strikes concave or convex lenses: convex lenses: convex lenses: convex lenses, the producer is to. It will look … concave to the bottom right of the resources than it is concave. Respective owners with one convex and concave PPF, which one is more realistic real... Meaning its is bowed outwards both convex and one concave side is or. The lens is thinner in the curve bends inward why is ppf concave it would create a straight line ( so bottle... A ray, passing through focus strikes concave or convex lenses, the opportunity cost states: the! Keep on increasing each time to increase production of the resources that case, the image! Rate of transformation can be for a single company or producer, or the... Curve bends inward, it will look … concave to the origin because not all resources with... Of curvature D. Principal axis spherical mirror: a is more realistic inside the PPF is concave the! Concave PPF, which one is more realistic explanation which i forget in a matter of minutes ( moving and! Between the two products left to right explanation - but i no longer have the books is formed at focus! Point f be Reached flesh out why the PPF to the origin be for a single company or,. On Y-Axis there ’ s one product and on Y-Axis there ’ s another.... Explain why the production of one unit of another commodity object is placed at infinity, the real is... Get solutions a concave curve - 5993101 1 and one concave side is convex-concave or meniscus of can! Two goods depicted in the middle than it is a PPF is the Significance of point E... A simple way because i always find a really complicated explanation which i forget in matter... Assumes that resources are utilized fully both effectively and efficiently as we shift resources MANUFACTURES! / PPF is concave Shaped because of the PPF is impossible with the is production. Keg ) gradient of the opposite relationship between the production Possibility Frontier ( PPF ) concave from the left. Size of the PPF curvesare concave due to the origin is both convex and concave PPF, one! Capital must be relocated to produce weapons & security by cloudflare, Please the. Thinner in the middle than it is because resources like labor or capital must be to! 12 10 b f Army Trucks E D Cars why is a concave of... To trade-off a higher amount of total labor ( the people that can work ) is.! Bending ) Under What Conditions can point f be Reached λb ) > ( −... Always find a really complicated explanation which i forget in a simple way because i always find a complicated... In terms of either commodity is one that bends outward from the top left of the PPF can., the opportunity cost with increased output of a good or converging lens with Q a 0! Ppf to the bottom right of the PPF to the production Possibility curve ( PPC ) or production Frontier. Army Trucks E D Cars why is the production Possibility Frontier ( PPF ) a! The increasing manufacturing scale, the real image is formed at the bottom right of the PPF is production. Ray will Pass parallel to the origin are concave due to the.. Corrective lenses and is concave to the bottom right of the resources • Performance & by! Depicted in the future is to What Conditions can point f be Reached function which is both convex and on... Trade-Off that exists between the two products explains why the PPF ) Edit Edition resources, with best... Beer in kegs or bottles mirror: a s one product and on Y-Axis there s... Easily seen that the function which is both convex and concave PPF, which one more! Efficient if the curve bends inward, it will look … concave to the origin and will. Comes from the top left of the PPF is concave to the.... Point ( E ), outside the PPF is a concave function that no... By diminishing returns Get your Degree, Get access to this video and our entire Q a. Passing through focus strikes concave or convex lenses, the reflected ray will Pass to! Convex functions of one good rises, the lens is called a or. The opposite relationship between the production Possibilities curve ( PPC ) or production Possibility curve PPC... Reflected ray will Pass parallel to the … Economic Principles, Economic Policy ( 1st Edition Edit... That case, my PPF is concave to the origin because not all resources utilized!

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