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Opportunity cost can be zero if there are no scarcity in goods and services and resources used to produce such commodities that can lead consumers to make a choice to fulfill their wants
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Under what circumstances will opportunity cost be zero?
opportunity cost is said to be zero(0) when resources are in abundance or when there is no cost in ascertaining your want. {ofofra}
What is the opportunity cost to society of employing workers who would otherwise have no alternative employment?
zero
What point will the opportunity cost be zero?
Free goodsGoods which can be use only one utilizationUnemployment situation in the society
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Under what circumstances will opportunity cost be zero?
opportunity cost is said to be zero(0) when resources are in abundance or when there is no cost in ascertaining your want. {ofofra}
What is the opportunity cost of doing and MBA or MPA from Australia?
zero
What is the opportunity cost to society of employing workers who would otherwise have no alternative employment?
zero
What point will the opportunity cost be zero?
Free goodsGoods which can be use only one utilizationUnemployment situation in the society
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
What calculates the opportunity cost?
Opportunity cost is something for the next porpose.
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
What do you understand by the term opportunity cost?
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Why does opportunity cost vary?
Opportunity Cost can vary depending on what you are giving up exactly.
What does increasing marginal opportunity cost mean?
As we decide to choose more units of anything, the opportunity cost of each additional unit will rise. This means that the opportunity cost of the second unit will be greater than that of the first unit. The opportunity cost of the third unit will be greater than that of the second unit. And so forththe law of opportunity cost states that the more of a product that is produced,the greater is its opportunity cost,hence increasing marginal opportunity cost in simple terms refers to an extra or additional opportunity cost of foregoing other products to produce a unit of another product
What is the difference between constant opportunity cost and increasing opportunity cost?
Real cost is the price which is real not a fake price
