Why does PPC is concave & convex to the orifin. Plzz Explain by diagram.
Asked by abhishek240624
26th April 2018,
11:50 AM
Answered by Expert
Answer:
PPC is concave shaped because of increasing marginal rate of transformation. It implies that more and more units of commodity sacrificed to gain an additional unit of another commodity.
PPC is convex shaped because of decreasing marginal rate of transformation. It implies that less and less units of commodity sacrificed to gain an additional unit of another commodity.
Answered by Expert
27th April 2018,
9:21 AM
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