AaBboar AaBbcr Aaebcet Aabl Aaa .Chapter 1 and 2 was a review of what I just com

Question

AaBboar AaBbcr Aaebcet Aabl Aaa .Chapter 1 and 2 was a review of what I just completed in the fall semester as I took Microeconomics. So it was easy reading. I understand all terms and concepts explained in both chapters. I understand The Production Possibility Frontier (ppd) graph concept but I have difficulty doing the interpretation of the curve. I understand the meaning of the point in or out of the curve but when I did the chap 2 practice questions all my mistakes were to explain g inward or outward curve or straight line I don't understand why if the o d from igin I would think that would be a straight line (cost of producing directly proportional to the production of more goods). If somebody can help me with that? Can you give some idea about question? I need five more sentence (USE OWN WORDS) 2. The Shape of the Supply Curve--why is it upward- sloping? Law of Demand: There is a negative relationship between "price" and "quantity demanded." Can you help me explain this question use own words, and total will be five sentence

Explanation / Answer

The reason is some resources are better suited for some tasks than others. In other words resources are not perfect substitutes in all uses. Ppf is negatively sloped because as we increase production of one good, we have to reduce production of other good. Given increasing opportunity cost ppf can only be bowed out. It can't be straight line because that will indicate constant opportunity cost which is not found in reality. Similarly it can't be convex to origin because that will mean opportunity cost decreases as production increases which again is against reality.

I hope you need only answer of highlighted part only. If you need answer of second question then please comment about it.

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