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It is "convex to the origin" in the sense that if we "stand" at the origin, the point $(0,0)$, and "look towards" the graph, we will perceive it as convex. In contrast, if we stand "above" such a graph looking towards it, taking "our" position as being the origin, it will be concave.
The most important difference between the two graphs, though, is that a budget constraint is a straight line, while a production possibilities curve is typically bowed outwards, i.e. concave towards the origin. The reason for this difference is pretty simple: the slope of a budget line is defined as the ratio of the prices of the two goods or ...
The PPC stands concave to its point of origin on the graph which is a result of the increasing marginal rate of transformation. The shape of the PPC will also depend on whether there are increasing, decreasing, or constant costs of production .
Production possibility curve (PPC) is concave to the origin because marginal opportunity cost (Loss of output of Y Gain of output of X) of shifting resources from commodity Y to commodity X tends to rise. This happens because resources are use-specific.
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28 Νοε 2020 · So how is line of credit interest calculated? This article will show you the basis for interest calculation on line of credit. We will also use examples to illustrate how the lender computes the interest.
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