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Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
Eldred Bergstrom
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Under what conditions is the production possibilities frontier linear rather than bowed out?
When the Opportunity Cost or the tradeoff between the two goods is always at a constant rate.
How does an opportunity cost differ from a trade -off?
Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
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.
Difference between opportunity cost and a tradeoff?
Opportunity cost is that amount which is to forego by adapting different mutual exclusive investing opportunities while tradeoff value is the exchange value of old asset while purchasing same new asset.
A point to the left of a budget line is?
A point to the left of a budget line is commonly a tradeoff. But a point to the right is an opportunity cost.
Under what conditions is the production possibilities frontier linear rather than bowed out?
When the Opportunity Cost or the tradeoff between the two goods is always at a constant rate.
How does cost differ from opportunity costs?
"cost" represents the money paid for something and "opportunity cost" is the value of the thing given up when one chooses something else.
How does an opportunity cost differ from trade offs?
Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
How does an opportunity cost differ from a trade -off?
Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
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.
How is opportunity cost different from tradeoff?
cost represents the money paid for something while opritunity cost is the value of one thing is when u give of something else, like cost is these shoes cos $228 or these shoes cost $456 and the others cost $228 you buy the cheap ones your opritunity cost is giving up the other shoes ! i got this off patoweb !
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.
