In Figure 3.2: Figure 3.2 Two graphs-In both graphs Ford automobiles are on the vertical axis and Chevy automobiles are on the horizontal axis; the first production possibilities curve is denoted PPC1 and is a straight downward sloping line; the second production possibilities curve is denoted PPC2 and is a downward sloping bowed out curve In Figure 3.2: PPC 1 represents the law of increasing opportunity cost. PPC 2 represents the law of constant opportunity cost. PPC 1 represents the law of constant opportunity cost. PPC 2 represents the law of decreasing opportunity cost