Give an example of conditions when the production possibilities frontier might not be concave.

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Microeconomics

ISBN: 978-0132857123

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

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Question Posted: Dec 22, 2015 02:36 AM

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Give an example of conditions when the production possibilities frontier might not be concave.

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The production possibilities frontier is concave if at least one of the production functions exhibits decreasing returns to scale If both production functions exhibit ...View the full answer

Microeconomics

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