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Introduction
For labourers working under MGNREGA Govt has increased minimum employment from 100 to 150 days. How will this affect real and potential level of production.
Real level of production will be increased by improvement in employment. But potential level of production will not increase (No shifting of PPC will take place). Reason being PPC is based on the assumption that available resources are fully utilised.
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Explain central problems with the help of PP curve. How does PP curve help in explaining the central problems?
(i) Why is PP curve downward sloping from left to right? (D 2006C)
(ii) Why does PP curve look concave to the origin?
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