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Question
The Production Possibility Frontier is generally ______.
Options
Convex Shaped
Concave Shaped
Either (a) or (b)
Neither (a) nor (b)
MCQ
Fill in the Blanks
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Solution
The Production Possibility Frontier is generally concave shaped.
Explanation:
The PPF is generally concave shaped because of increasing marginal rate of transformation (MRT).
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