When most people think of vegetarians, they think of lacto-ovo-vegetarians. People who do not eat beef, pork, poultry, fish, shellfish or animal flesh of any kind, but do eat eggs and dairy products are lacto-ovo vegetarians (âlactoâ comes from the Latin for milk, and âovoâ for egg). Lacto-vegetarian is used to describe a type of vegetarian who does not eat eggs but does eat dairy products.
Also in the context of consumption possibility curve, the opportunity cost of the x-axis product is equal to the price of x divided by the price of y, to calculate it for the y-axis product, we take the inverse of that number. Presented by: Ablay, Bernadeth.
Quick Answer. A bowed production possibility curve occurs when the opportunity cost of a good increases as more of the item is produced. The production possibility frontier (PPF) or production possibility curve occurs when the economy is the most efficient at producing goods and services and allocating resources in the best way possible. Continue Reading