Final answer:
The PPF is curved due to the law of increasing opportunity cost, which states that as production of a good or service increases, the marginal opportunity cost of producing it also increases. This is because some resources are better suited for producing certain goods. As more resources are allocated to one good, the opportunity cost of producing the other increases.
Step-by-step explanation:
The production possibilities frontier (PPF) represents the different combinations of two goods that can be produced given the available resources and technology. The shape of the PPF can vary, and in the case of healthcare and education, it is curved. This is because of the law of increasing opportunity cost, which states that as production of a good or service increases, the marginal opportunity cost of producing it also increases.
This happens because some resources are better suited for producing certain goods, and as more resources are allocated to one good, they become less suitable for producing the other. For example, when more resources are allocated to education, the original increase in opportunity cost is small, but it gradually increases. Conversely, when more resources are allocated to healthcare, the original decline in opportunity cost is large, but it gradually diminishes.
The law of increasing opportunity cost is illustrated by the outward-bending shape of the PPF, indicating that society faces increasing trade-offs as it produces more of a particular good.