Learning Contents:                                                              ·          Understanding the Concave shape of PPC ·          Understanding the Linear   shape of PPC ·          Understanding   the Convex   shape of PPC Concave Shape: The concave shape of the production possibility curve occurs due to increasing marginal opportunity cost. It means that in order to produce more units of good X, more and more units of Good Y is to be sacrificed. This is because of the application of the  law of diminishing returns. Below mentione...