Question #232976
the syejumba economy is a very simple economy producing vigayo and gallons of maize. The table below gives production points of the two commodities in the economy
Expert's answer
The production possibility frontier is slanted downwards.
The slope rises as we progress along the production potential frontier. The growing slope indicates that when we raise the production of one item, we must sacrifice the production of another good at a greater pace, implying that opportunity costs are increasing.
The boundary of production possibility tends to be concave toward the origin.
The slope rises as we progress along the production potential frontier. The growing slope indicates that when we raise the production of one item, we must sacrifice the production of another good at a greater pace, implying that opportunity costs are increasing.
