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Sagot :
When the p.c is concave (bowed out), opportunity prices increase as you move alongside the curve. While the p.c is convex (bowed in), opportunity costs are decreasing.
The law of increasing possibility cost: As you grow the production of one true, the opportunity cost to provide the additional good will increase. First, understand that opportunity cost is the value of the following-best alternative when a decision is made; it is what is given up.
The law of increasing opportunity cost is the idea that as you continue to grow production of 1 suitable, the possibility fee of manufacturing that subsequent unit will increase. This comes approximately as you reallocate resources to produce one true that became better suited to produce the good.
Learn more about opportunity costs here: https://brainly.com/question/1549591
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