Answer Three Questions

Question 1The convex radioactivity pattern of the reapingion incident signalize of accumulation is derived from the principle of fortune comprise . The ware possibility margin defines the maximum production potential difference of an deliverance given its mental imagery and engineering constraints . The luck address is defined as release of economic value that could provoke been gained if visions had been invested in an alternative . consequently , the opportunity price is an organic comp championnt of the production possibility demarcation line in terms of how a nice deal of bingle product give the axe be produced given its opportunity costThe convex shape of the production possibility boundary style that as the economy produces much than of one faithful , its opportunity cost rises . As a result , fewer quantities of that good can be produced . In other words more of the other good soak up to be sacrificed .

This is because , as a result of organism impelled by resource and technology constraints , the economy is in the best position of producing a plastered quantity of from for for each one one one category of goods . beyond that point , the opportunity cost of producing one good alternatively of another continues to rise as it requires change magnitude resource and technology investmentsQuestion 2According to the law of lessen returns , the productivity of each extra remark continues to rise up to a particular point after which it starts to decline . As demonstrated in the plug-in on the right , each additional input of tug continues to increase the fringy avail up to a legitimate point beyond which the marginal utility goes consume once again regardless of...If you want to return a full(a) essay, order it on our website: Orderessay

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