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Larger sacrifice of an alternative good caused by an increasingly greater production of another good in a firm or economy, where resources are already being fully and efficiently used
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∙ 8y ago
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∙ 12y agodecision making is the primary tasks of the manager comments
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Law of decreasing opportunity cost?
Opportunity cost does not decrease, it increases, according to the law of increasing opportunity costs. This law states that the more of a product you produce the less efficient production of it will be and the more opportunity cost they will incur.
How does the law of variable proportion affect the cost curve?
As we know law of variable proportion means as we increase the quantity of one input keeping other input fix... the Total physical product increase @ increasing rate than increase at decreasing rate than at decreasing rate.... and cost curve is totally dependent upon total variable cost curve.... so if the output is increasing this is due to increase in variable factors( labors) and if labors increase the cost will be obviously more as the labor increase....+
The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the?
measured by its price
What is the Latin word for 'opportunity'?
Commodum
Why is it important to give other people the opportunity to contribute their ideas and opinions and show that you have taken account of these?
Why is it important to give other people the opportunity to contribute their ideas and opinions and show that you have taken account of these?
What is an increase in opportunity cost?
an increase in oppourtunity cost is rasing of chicken and rice.
What are the examples to increase the opportunity cost in tourism?
the increased opportunity costs in tourism
Why do opportunity cost increase as society produces more of a good?
Because when one produces one product, the opportunity cost of the other product increases. The concave represents the increasing opportunity cost with the production of a good.
Does increasing opportunity cost occur when resources are being used at their peak efficiency when does opportunity cost increase?
it is a sacrifice that one has to make between the alterntive he or she chooses to the next best alterntive
The opportunity cost of each additional tank in terms of autos.......?
Increase as more tanks are produced.
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.
Why does the opportunity cost of doing homework increase as you spend more time doing it?
Opportunity cost of doing homework increases as you spend more time doing it because of the time you are allocating for it. You can be accomplishing something else.
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.
Which statement describes an opportunity cost that could result from the government regulating businesses?
Government regulations can lead to an increase in production costs.
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
The law of increasing costs means that when an economy increases the production of one item?
It is one of these questions: a. the opportunity cost goes up. b. the actual cost of making the item goes down. c. the actual cost goes up but the opportunity cost goes down. d. the production costs will increase also. You decide...
