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what will happen when IC become concave to the origin...
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what will happen when IC become concave to the origin...
IC belongs to MRS(marginal rate of substitution) if MRS is dimnishing then,IC is convex and when MRS is increasing then,IC is concave.😊😊.when MRS is increasing then,you can say it PPC(Production posibility curve)😊😊
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what will happen when IC become concave to the origin...
IC is always negatively sloped curve
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what will happen when IC become concave to the origin...
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