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How can production possibilities frontier explain law of increasing opportunity cost?

Answer:

The shape of the curve is convex to the origin which shows increasing opportunity cost. Consider the changes in reduction of one good's output as production of the other good is increased by the same amount. as the reduction progresses it will become greater due to steeper gradient.

First answer by ID0996608874. Last edit by Cardioid1. Contributor trust: 0 [recommend contributor ]. Question popularity: 1 [recommend question].

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Relevant answers:

What does the law of increasing opportunity costs explain?
the increasing amounts of one commodity that a nation must give up to release just enough resources to produce each additional unit of another commodity. THis is reflected in a production frontier...
Where is opportunity cost on a production possibility frontier?
The opportunity cost would be the slope of the PPF. So the opportunity cost of the good on the x axis is in terms of the good on the y axis. This is why we would say a PPF demonstrates increasing...
What is law of increasing opportunity cost?
The law of increasing opportunity costs states that as production of a product increases, the cost to produce an additional unit of that product increases as well. (Some resources are specialized to...
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Why is the law of increasing opportunity cost reflects in a production possibilities curve?
Because in a convext towards origin curve as you move towards that good, you need to give up more of the other good.Or closer to center, to produce 5 more Bus, you need to give up 4 trucks.But when...