Yes, they do.
no
The PPF is bowed outwards (concave to the origin) as tradeoffs between the production of any two goods are constant.
Assumptions to determine the PPC is:only 2 goods will be illustratedthe amount of resources is fixedstate of technology is constant
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
Because when one produces one product, the opportunity cost of the other product increases i.e. the concave represents the increasing opportunity cost with the production of a good.
the increasing costs resulting in increasingly less output
The law of increasing cost explains that as production increases, the opportunity cost of producing additional units of a good also increases. This is because resources are not equally efficient in producing all goods, and as more of one good is produced, resources are shifted from their most efficient use to less efficient uses.
production possibilities curve convex to the origin. Elson Mendoza was here.
no
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
it really good
yes
Any point on the PPC curve
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
Attainable, but the economy is inefficient.
shift outward