Question : A country produces two commodities: X and Y. Its production possibilities are shown in the following table:
The shape of PPF is _____________
Option 1: Convex
Option 2: Concave
Option 3: Constant
Option 4: None of these
Correct Answer: Convex
Solution :
PPF is convex shaped due to decreasing MRT i.e. less and less units of commodity Y are sacrificed to gain an additional unit of commodity X. Hence, the correct answer is 1.
Question : India produces two commodities: X and Y. Its production possibilities are shown in the following table:
Question : Determine the marginal opportunity cost of 10 units of commodity X:
Question : Match the columns (As per Census 2011).
Question : Match the column-
1 Break-even point
2
Question : Match the Following
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