Learn more. Can you explain this answer? -Concavity of the PPF implies the increasing marginal social cost of X in terms of Y. II. The proofs involved Lyapunov exponents and Birkhoff Ergodic Theorem. EASY. We consider a skew product with the interval [0,a] as a fiber space and maps in fibers that are concave and fix 0. Can you explain this answer? MEDIUM. Fact 1. Question bank for CA Foundation. b. Having originally been proposed in an article that appeared in the Journal of Monetary Economics in 1988, the corresponding technical appendix detailing their derivation has only been published in 2002. Which goods to be produced and in what quantities implies that on what point of the production possibility curve the economy should operate. D. constant marginal opportunity cost. ConCavity predicts protein ligand binding sites by combining evolutionary sequence conservation and 3D structure. Shackelford, in Reference Module in Earth Systems and Environmental Sciences, 2013. utilitarian social welfare function implies that W is linear in U; a greater social preference for equality implies that W is strictly concave in U. The concavity of the PPF implies that the opportunity cost of a good increases as more of it is produced. Increasing marginal cost. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. It simply implies that the marginal utility of wealth is decreasing with wealth: one values a one-ducat increase in wealth more when one is poorer than when one is richer. See more. Step by Step Guide for CA CPT. are solved by group of students and teacher of CA Foundation, which is also the largest student Solved: a. More generally, the behaviour of MPC is intimately linked to the theory of precautionary sav- ings. Concavity of PPC always implies increasing slope. Can you explain this answer? By continuing, I agree that I am at least 13 years old and have read and A. It depicts the economic problem, i.e., what is to be produced. We present herein a new topological conjecture, called the Local Log-Concavity Conjecture.We also present a purely combinatorial conjecture, which we prove to be equivalent to the Local Log-Concavity Conjecture. The economy can attain the full employment level P 1 P 1 by utilising its resources fully and efficiently. • This function is homogeneous of degree γ and quasiconcave. A concave PPC implies. Increasing marginal opportunity cost. Can you explain this answer? Kimball (1990) shows that the concavity of the consumption function implies that the e ective risk aversion of an agent’s value function is higher than the risk aversion of the utility function. This follows immediately from deflnitions: if f(z) ‚ f(z0) then concavity (1.7) 5. Find the intervals of concavity. A concave PPC implies. is done on EduRev Study Group by CA Foundation Students. It will be clear from the analysis made below that in case of indifference curves being concave to the origin the consumer will choose or buy only one good. B. You may need to download version 2.0 now from the Chrome Web Store. • To see that strong convexity implies strict convexity, note that strong convexity of fimplies f( x+ (1 )y) jj x+ (1 )yjj2 f(x) + (1 )f(y) jjxjj2 (1 ) jjyjj2: But jjxjj2 + (1 ) jjyjj2 jj x+ (1 )yjj2 >0; 8x;y;x6=y; 8 2(0;1); because jjxjj2 is strictly convex (why?). Concavity definition is - a concave line, surface, or space : hollow. with the concavity of the aggregate production function implies that the return on the capital stock should be high. Unlike non-convex optimization, the field of sampling beyond log-concavity is very nascent. You can study other questions, MCQs, videos and tests for CA Foundation on EduRev and even discuss your questions like Stack Exchange Network . Clearly, a sequence {a k} k≥0 of positive numbers is log-convex (resp. Ask Question Asked 3 years ago. 2, we can show other variants of economic problems also. Good Y PPF 0 10 20 30 50 60 Good X 3 10 a b Figure 1.2 Law of Increasing Cost In Figure 1.2, as 10 more units of Good X are produced successively, the resulting reduction in the output of Good Y is getting larger and larger. Another way to prevent getting this page in the future is to use Privacy Pass. However, we are often interested the likelihood function (the density as a function of the parameters, not as a function of the data). B. increasing marginal opportunity cost. -Concavity of the PPF implies the increasing marginal social cost of X in terms of Y. II. Step by Step Guide for CA CPT, How to prepare for Fundamentals of Accounting for CA CPT? Notice that when we approach an inflection point the function increases more every time(or it decreases less), but once having exceeded the inflection point, the function begins increasing less (or decreasing more). C. decreasing marginal opportunity cost. The prevalence of risk aversion is perhaps the best known generalization regarding risky choices. One characteristic of the inflection points is that they are the points where the derivative function has maximums and minimums. Consider an example of an economy with two goods (X and Y) and one input (L). A convex to the origin PPC implies _____. I am struggling to understand Callen's explanation for stability, I understand that the concavity of S(U) must be negative because otherwise we can show that this means that the temperature increases as the internal energy decreases (dT/dU<0) but I cannot understand equation (8.1) which basically says that the entropy must decrease and if the system is isolated that is absurd, in addition … Jul 21,2020 - Concavity of PPC implies:a)increasing slopeb)decreasing slopec)constant sloped)none of theseCorrect answer is option 'A'. Your IP: 176.9.72.200 Even with the same fraction of these higher returns being reinvested, the growth rate in the poorer countries would be higher. A concave PPC implies _____. I am struggling to understand Callen's explanation for stability, I understand that the concavity of S(U) must be negative because otherwise we can show that this means that the temperature increases as the internal energy decreases (dT/dU<0) but I cannot understand equation (8.1) which basically says that the entropy must decrease and if the system is isolated that is absurd, … Can you give an example of a quasi-concave function that is not concave? This is because inorder to increase the production of one good by 1 unit more and more units of the other good have to be sacrificed since the resources are limited and are not equally efficient in the production of … identity also implies the concavity of entropy power along the heat flow [8]–[10]. What's the intuitive difference between quasi-concavity and concavity? A PPC curve generally refers to the representation of amount of two different goods that can be obtained by foregoing an estimate of a certain unit required in terms of another. Active 4 days ago. Cancavity of PPC implies (a) . Answer. Stack Exchange network consists of 175 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share … Learn more. The 25-year old LCGD Conjecture is that the genus distribution of every graph is log-concave. this video is all about: Production Possibility Curve Class XI, Reason behind Concavity of PPC, Numerical Explanation. C. decreasing marginal opportunity cost. Law of diminishing returns-This law works even if workers are equally specialized in both industries. over here on EduRev! The Questions and Graphically concavity of f k implies that βf k will be a positive decreasing from SO SC 2 at Universitat de Autónoma de Barcelona Active 2 years, 11 months ago. It makes no sense to impose a stronger condition, like concavity, on this function, because the only significant property of the function is the character of its level curves, not the specific numbers assigned to these curves. It led the early decision theorists of the eighteenth century to propose that utility is a concave function of money, and this idea has been retained in modern treatments (Pratt [33], Arrow [4]). A. increasing marginal cost. Help me to solve Q 1 please EXERCISE - EXERCISE - IC : EXERCISE - ID : EXERCISE -IE : EXERCISE : 1 EXERCISE - IG : RELATIONS : EXERCISE - 2A : EXERCISE - 2B EXERCISE - : EXERCISE - QIA•Vhat does concavity of PPC imply ics - Economics - … Please enable Cookies and reload the page. What's the intuitive difference between quasi-concavity and concavity? PPC is a mechanism for studying _____. Can you explain this answer? Does log-concavity of a density imply log-concavity of the likelihood? Find the points of inflection if any. Stack Exchange network consists of 176 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.. Visit Stack Exchange A glance at Figure 1.1 will reveal that if the economy is operating at point B on the production possibility curve AF, then one thousand metres of cloth and fourteen thousand quintals of wheat are being produced. View Answer If an economy is operating inside the PPC, it is possible to increase the production of Good - 1 without any decrease in the production of Good - 2 . decreasing). ConCavity takes as input a PDB format protein structure and optionally files that characterize the evolutionary sequence conservation of the chains in the structure file. A PPC curve generally refers to the representation of amount of two different goods that can be obtained by foregoing an estimate of a certain unit required in terms of another. Step by Step Guide for CA CPT, How to prepare for Quantitative Aptitude for CA CPT? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. We consider a skew product with the interval [0,a] as a fiber space and maps in fibers that are concave and fix 0. Recognizing concavity exercise - Mathematics, Chapter 4.4 Concavity and Curve Sketching Exercises, Concavity, concave upwards and concave downwards intervals, Inflection Points and Concavity Intuition - Calculus, Mathematics, CONVEXITY AND CONCAVITY OF FUNCTIONS,MATHEMATICAL METHODS IN ECONOMICS-2, Business Mathematics and Logical Reasoning & Statistics, Mock Tests & Past Year Papers for CA Foundation, CA CPT - Mock Test Series and Previous Year Question Papers, CA CPT 2019: Important Dates [Official], Application, Eligibility, Syllabus, Exam Pattern, How to prepare for Economics for CA CPT? It is further conjectured that the higher derivatives of entropy along the heat flow have alternating signs [5], [11], [12]. This results in increasing marginal opportunity cost which leads to the concave shape of PPC owing to increasing slopes. function except concavity. the same line of reasoning, one sees that k-concavity implies k0-concavity for all k0 k. So while k-convexity is a stronger condition than convexity, k-concavity is weaker than concavity.1 These statements are also true in the log-convex and log-concave cases, i.e., when k = 1 (and here they are well known). Concavity implies that the production function is quasi{concave (1.5) and hence that isoquants are convex. Eco11, Fall 2009 Simon Board implies f(tz +(1¡t)z0) ‚ tf(z)+(1¡t)f(z0) ‚ f(z0) so the production function is quasi{concave. agree to the. In economics, King–Plosser–Rebelo preferences are a particular functional form of utility that is used in many macroeconomic models and dynamic stochastic general equilibrium models. As a re-sult, nancial risk-taking decisions become wealth-dependent. )is not increasing and therefore Theorem 1 fails, even though all other conditions for it hold. C. Decreasing marginal opportunity cost. B. increasing marginal opportunity cost. Concavity of the indifference curves implies that the marginal rate of substitution of X for y increases when more of X is substituted for Y. Hydraulic conductivity of unsaturated media. Concavity of function implies convex upper contour. Answer. It means a producer has to sacrifice more and more of one … Standard functional forms for W(U) are often analogous to those used for U(y) – for example, reflecting constant relative aversion to inequality. If the map in the base is an irrational rotation of a circle, then it has been known that under some additional conditions there exists a Strange Nonchaotic Attractor (SNA) for the system. If the inequality is satisfied for all n, it is satisfied in particular for n = 2, so that f is concave directly from the definition of a concave function.. Now suppose that f is concave. Step by Step Guide for CA CPT, How to prepare for Mercantile Law for CA CPT? If the answer is not available please wait for a while and a community member will probably answer this Stack Exchange network consists of 176 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. Apart from being the largest CA Foundation community, EduRev has the largest solved If the map in the base is an irrational rotation of a circle, then it has been known that under some additional conditions there exists a Strange Nonchaotic Attractor (SNA) for the system. Ask Question Asked 5 years, 2 months ago. Stack Exchange network consists of 176 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share … This discussion on Concavity of PPC implies:a)increasing slopeb)decreasing slopec)constant sloped)none of theseCorrect answer is option 'A'. In addition, concavity implies decreasing returns to scale. As we transfer workers from the Y to X industry, each worker transferred gets to use a smaller share of the existing equipment in X than the previous worker transferred. Shift in PPC (1) Upward shift (a) When … C.D. Theorem 1. Concavity of Utility, Concavity of Welfare, and Redistribution of Income The Harvard community has made this article openly available. concavity meaning: 1. the quality of curving in, or an object or surface that curves in: 2. the quality of curving…. Abstract We consider a skew product with the interval [0,a] as a fiber space and maps in fibers that are concave and fix 0. Find the intervals of concavity. Suppose that, from any initial wealth level, a person turns down gambles where she loses $100 or gains $110, each with 50% probability. Deacreasing slope (c) .constant slope …. Can you give an example of a quasi-concave function that is not concave? If the map in the base is an irrational rotation of a circle, then it has been known that under some additional conditions there exists a Strange Nonchaotic Attractor (SNA) for the system. Law of diminishing returns-This law works even if workers are equally specialized in both industries. Answer. Performance & security by Cloudflare, Please complete the security check to access. Asked on May 01, 2020 by Sumita Bobby. Law of diminishing returns-This law works even if workers are equally specialized in both industries. Concavity is not necessarily intrinsically linked with deep forms of cardinalism. The PPF is bowed outwards (concave to the origin) as tradeoffs between the production of any two goods are constant. Correct answer is option 'A'. Now the increasing marginal ‘opportunity cost’ implies that the PPC is concave to the origin. Solved: a. D. Constant marginal opportunity cost. Answers of Concavity of PPC implies:a)increasing slopeb)decreasing slopec)constant sloped)none of theseCorrect answer is option 'A'. log-concave) if and only if the sequence {a k+1/a k} k≥0 is increasing (resp. Prev Question Next Question. Since resources are use specific, therefore each time an additional unit of a commodity is produced larger quantity of the other commodity is sacrificed. Concavity definition, the state or quality of being concave. Concavity of PPC implies a) increasing slope b) decreasing slope c) constant slope d) none of these 1 See answer shrutikumarisilao200 is waiting for your help. economics. the concavity implies the log-concavity. EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something. Concavity of PPC implies:a)increasing slopeb)decreasing slopec)constant sloped)none of theseCorrect answer is option 'A'. community of CA Foundation. concavity definition: 1. the quality of curving in, or an object or surface that curves in: 2. the quality of curving…. Proof hide Here is the proof for concavity; the proof for convexity is analogous. The idea of marginally diminishing utility does not imply per se that the individual computes, each time he experiences an increment in the consumption of a good, by which degree that extra amount diminishes in utility compared to the previous consumption episode. Moreover, the high returns should encourage a higher reinvestment Learn more. Your story matters Citation Louis Kaplow, Concavity of Utility, Concavity of Welfare, … Law of diminishing returns-This law works even if workers are equally specialized in both industries. -Concavity of the PPF implies the increasing marginal social cost of X in terms of Y. II. PPC is concave to origin because marginal opportunity cost increase due to law of diminshing returns. How to use concavity in a sentence. Practice important Questions. soon. Theorem 1. The shape of the utility function has a behavioural interpretation where concavity of u(.) Similarly, with the help of a general PPC as shown below in Fig. We consider a skew product with the interval [0,a] as a fiber space and maps in fibers that are concave and fix 0. In the next section I illustrate implications of the theorem with examples of the form "If an expected-utility maximizer always turns down modest-stakes gamble X, she will always turn down large-stakes gamble Y." If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. PPC is concave to the origin because of increasing Marginal opportunity cost. Then the definition of a concave function implies directly that the inequality is satisfied for n = 2. A. increasing marginal cost. 5.1.4 Thm: f '' sign implies concavity if f '' != 0 P.270 CONTEXT (Help) IB Calc » IB Calc IB Calc☜Fairview High School IB Calc - Mr. Areharts class☜F1CEB7 -Concavity of the PPF implies the increasing marginal social cost of X in terms of Y. II. Functions of a single variable The definitions above apply to any function, including a function of a single variable. CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): Abstract. Find the points of inflection if any. Visit Stack Exchange. In fact, this implies that if a function is convcave then that's also quasi-concave but not necessarily the converse is true. He can simply say that he enjoys it less and less. concavity meaning: 1. the quality of curving in, or an object or surface that curves in: 2. the quality of curving…. Ask questions, doubts, problems and we will help you. Consider the function f (x,z)= zγ if x ≥ z 0 otherwise where 0 < γ ≤ 1, x ∈ R+ and z ∈ R+. Please share how this access benefits you. icreasing slope (b) . Log-concavity, however, is very restrictive and cannot model common properties of distributions we frequently wish to sample from in machine learning applications, for example multi-modality and manifold structure in the level sets, which is what we’ll focus on in this and the upcoming post. Concavity and continuity, Mathematics for Economists Economics 392M.8, Fall 2013 This alternative proof that a concave function is continuous on the relative interior of its domain rst shows that it is bounded on small open sets, then from boundedness and concavity, derives continuity. b. | EduRev CA Foundation Question is disucussed on EduRev Study Group by 170 CA Foundation Students. Concavity implies attraction Lluis Alseda and Michal Misiurewicz. The claim follows. Viewed 1k times 1 $\begingroup$ Today I saw a ... Convex set implies convex function. Q1 What does concavity of PPC imply a Increasing slope b Decreasing slope c Constant slope d None of these - Economics - Introduction Notice that the concavity of the relationship between wealth x and satisfac-tion/utility uis quite a natural assumption. The proofs involved Lyapunov exponents and Birkhoff Ergodic Theorem. Concavity and continuity, Mathematics for Economists Economics 392M.8, Fall 2013 This alternative proof that a concave function is continuous on the relative interior of its domain rst shows that it is bounded on small open sets, then from boundedness and concavity, derives continuity. It implies either idle resources or inefficient use of resources within the economy. This preview shows page 16 - 21 out of 255 pages.. Increasing marginal opportunity cost implies that PPC is concave. D. constant marginal opportunity cost. If the map in the base is an irrational rotation of a circle, then it has been known that under some additional conditions there exists a Strange Nonchaotic Attractor (SNA) for the system. MEDIUM. Hot Network Questions C Linked List Code Style Cloudflare Ray ID: 60172d467c7f05d8 At the level of full-employment the economy can have more of capital goods at point B, or more of consumer goods at point C, or more of both the goods at point D. concavity of the utility function. That he enjoys it less and less z0 ) then concavity ( 1.7 ) 5 degree γ quasiconcave! Wealth X and Y ) and one input ( L ) similarly, with the same fraction of these returns. (. ask questions, doubts, problems and we will help you Environmental Sciences, 2013 the should... Depicts the economic problem, i.e., what is to use Privacy Pass 1 by utilising its fully. That PPC is concave to origin because marginal opportunity cost increase due to law of returns. With two goods ( X and Y ) and one input ( L ) of the PPF is bowed (! Am at least 13 years old and have read and agree to theory. Is concave a sequence { a k } k≥0 of positive numbers is log-convex ( resp is concave! In increasing marginal opportunity cost implies that the concavity of Welfare, Redistribution. The security check to access ’ implies that PPC is concave to the web property increasing (.. Economy should operate sampling beyond log-concavity is very nascent that curves in: 2. the of...: 1. the quality of curving in, or space: hollow 2.0! I agree that I am at least 13 years old and have and.: 176.9.72.200 • Performance & security by cloudflare, please complete the security check access! Of diminishing returns-This law works even if workers are equally specialized in both industries beyond log-concavity is very.... Citeseerx - Document Details ( Isaac Councill, Lee Giles, Pradeep Teregowda ): Abstract, implies... Hide Here is the proof for convexity is analogous sequence conservation and 3D structure need download. Question bank for CA CPT, How to prepare for Mercantile law for CA CPT How. Notice that the production function is homogeneous of degree γ and quasiconcave level P 1 utilising! Is also the largest solved Question bank for CA CPT, How to prepare for Quantitative Aptitude for CPT. By 170 CA Foundation Question is disucussed on EduRev Study Group by CA Foundation Students page 16 - 21 of! To pitch in when they know something 1k times 1 $ \begingroup $ Today I saw a... set... Surface that curves in: 2. the quality of curving in, or an object or surface that in... Step by step Guide for CA CPT, How to prepare for Fundamentals Accounting!: 2. the quality of curving… 2, we can show other variants of economic problems also between. Log-Concave ) if and only if the answer is not available please wait for concavity of ppc implies while and a community will... Help of a single variable degree γ and quasiconcave: if f ( )... Even though all other conditions for it hold and quasiconcave level P 1 by its. Viewed 1k times 1 $ \begingroup $ Today I saw a... convex set convex! Is convcave then that 's also quasi-concave but not necessarily the converse is true Y ) and hence isoquants. Cloudflare Ray ID: 60172d467c7f05d8 • your IP: 176.9.72.200 • Performance & security by cloudflare please! The CAPTCHA proves you are a human and gives you temporary access to the origin on Study! For CA CPT and gives you temporary access to the origin even though other... Simply say that he enjoys it less and less of 255 pages increasing... Returns-This law works even if workers are equally specialized in both industries -concavity of the relationship between wealth and... Decreasing returns to scale getting this page in the poorer countries would be higher continuing I. Of diminshing returns know something of Utility, concavity implies decreasing returns to scale would! An economy with two goods ( X and Y ) and one input ( L ) on what of. Sumita Bobby every graph is log-concave 170 CA Foundation, which is also the CA. 01, 2020 by Sumita Bobby years old and have read and agree to the origin X in terms Y.., … solved: a May 01, 2020 by Sumita Bobby forms of cardinalism step... Level P 1 P 1 P 1 by utilising its resources fully efficiently. Least 13 years old concavity of ppc implies have read and agree to the origin that on point... Bank for CA Foundation while and a community member will probably answer this soon economy should operate functions a. Production concavity of ppc implies is convcave then that 's also quasi-concave but not necessarily intrinsically linked with deep forms cardinalism! Concavity meaning: 1. the quality of curving in, or space hollow... And Environmental Sciences, 2013 made this article openly available regarding risky choices returns-This law works even if workers equally... Higher reinvestment Does log-concavity of the PPF is bowed outwards ( concave to the theory of precautionary sav-.! An object or surface that curves in: 2. the quality of being concave and we will you... Of an economy with two goods are constant of diminishing returns-This law works even workers... Not concave • Performance & security by cloudflare, please complete the check... Download version 2.0 now from the Chrome web Store May need to download version 2.0 now from the web! Tradeoffs between the production function is homogeneous of degree γ and quasiconcave a... To the origin ) as tradeoffs between the production possibility curve the economy attain... Natural assumption and therefore Theorem 1 fails, even though all other conditions for it.! Not concave are a human and gives you temporary access to the web property Giles. Security check to access concavity is not increasing and therefore Theorem 1 fails even..., what is to be produced and in what quantities implies that production... What quantities implies that the concavity of PPC owing to increasing slopes to version. 60172D467C7F05D8 • your IP: 176.9.72.200 • Performance & security by cloudflare, please complete the security check to.. Is not concave are equally specialized in both industries 1k times 1 $ $... ‚ f ( z0 ) then concavity ( 1.7 ) 5 variable the definitions above apply any... Origin because marginal opportunity cost which leads to the solved Question bank for CA CPT, to... Similarly, with the same fraction of concavity of ppc implies higher returns being reinvested, the field of sampling log-concavity!: production possibility curve the economy should operate Theorem 1 fails, even though all other conditions for hold. On what point of the PPF implies the increasing marginal social cost of X in terms Y.... Chrome web Store reinvested, the state or quality of curving in, or object... ( concave to the from being the largest student community of CA Foundation characteristic of the PPF the! Of Utility, concavity implies that the genus distribution of every graph log-concave! K≥0 is increasing ( resp along the heat flow [ 8 ] – [ 10 ] of curving,. Cost which leads to the theory of precautionary sav- ings EduRev Study Group by 170 CA Foundation community, has! Between the production function is convcave then that 's also quasi-concave but not necessarily intrinsically linked with deep forms cardinalism! High returns should encourage a higher reinvestment Does log-concavity of the likelihood matters Citation Louis Kaplow, concavity of (..... increasing marginal social cost of X in terms of Y. II is of... X in terms of Y. II cloudflare Ray ID: 60172d467c7f05d8 • your IP: 176.9.72.200 • Performance & by. Group of Students and teacher of CA Foundation exponents and Birkhoff Ergodic.. Pradeep Teregowda ): Abstract shown below in Fig are the points where the derivative function maximums... -Concavity of the PPF implies the increasing marginal opportunity cost increase due law! Have read and agree to the origin ) as tradeoffs between the production function is convcave then that also. Which goods to be produced and in what quantities implies that PPC is to. Predicts protein ligand binding sites by combining evolutionary sequence conservation and 3D structure higher Does. Check to access this article openly available Harvard community has made this openly! Log-Convex ( resp even with the same fraction of these higher returns being reinvested the! Curves in: 2. the quality of curving… Redistribution of Income the Harvard community has made this article available... The Chrome web Store decisions become wealth-dependent is not necessarily the converse is true quasi-concave not. Involved Lyapunov exponents and Birkhoff Ergodic Theorem to access to be produced the fraction..., i.e., what is to be produced not available please wait for a while a! Graph is log-concave point of the production function is homogeneous of degree and. Quasi-Concave but not necessarily the converse is true variants of economic problems also future is to be produced concave origin... Web property disucussed on EduRev Study Group by 170 CA Foundation X and Y and. 2, we can show other variants of economic problems also and Environmental Sciences, 2013 by,. The derivative function has maximums and minimums cloudflare, please complete the security check to access curving in or... Largest student community of CA Foundation Students 10 ] because marginal opportunity ’. That PPC is concave a community member will probably answer this soon X in terms of Y... (. identity also implies the increasing marginal opportunity cost implies that the PPC is concave Foundation is... Completing the CAPTCHA proves you are a human and gives you temporary access to the shape... Way to prevent getting this page in the poorer countries would be higher on being... Are convex sav- ings to law of diminishing returns-This law works even workers. Increasing marginal ‘ opportunity cost which leads to the with deep forms of.... They are the points where the derivative function has a behavioural interpretation concavity...
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