Why is the production possibility frontier (curve) concave in shape (bows outward)?

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Development Economics

ISBN: 9780691017068

1st Edition

Authors: Debraj Ray

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Posted Date: Mar 09, 2024 04:52 AM

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Why is the production possibility frontier (curve) concave in shape (bows outward)?

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The production possibility frontier PPF is concave in shape because of the principle of diminishing ... View the full answer

Development Economics

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