Typical shape of the production possibilities curve indicate

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What two graphical aspects of opportunity cost does the slope of the typical shape of the Production Possibilities Curve indicate? What is the reason for each of the aspects, in term of the underlying assumptions? Is it possible for the PPC to have a positive or zero slope? Why or why not? What does it mean, in terms of the underlying assumptions, to be: Inside the curve, On the curve, Outside the curve?

Reference no: EM131246935

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