Answer to Question #75068 in Microeconomics for Susmeeta
Why is production possibilities curve is concave explain
According to MANNING (2014), inadaptability of resources results to the concave shape of the production possibility curve. It can be supported by the law of increasing opportunity cost which states that: ‘as the production of one good rises, the opportunity cost of producing that good increases.’ For example; in any society folks must deal with limited resources through comparison of their opportunity costs. If a country opts for production of more weapons, then the country should surrender some of the other goods, talk of food. The reason is resources such as capital or labor should be relocated to produce weapons (MANNING, 2014).
Im very glad to use your service,last semester i used to stress over assignments even tho i knew how to do them but it used to put me in extra stress and specially having 5 courses with it made things hard,ever since i started using your service,it has removed alot of stress for me,im gettinf better grades now,100% in all my assignments till now,ive a humble resquest,i will keep following your website for many years,for your regular or frequent customers you should include some sort of discount other than that everything is perfect