0
"cost" represents the money paid for something and "opportunity cost" is the value of the thing given up when one chooses something else.
What else can I help you with?
What generates the law of increasing opportunity costs?
The law of increasing opportunity costs states that the more of a product that is produced the greater is its opportunity cost.
What are the examples to increase the opportunity cost in tourism?
the increased opportunity costs in tourism
Is opportunity cost define as the real cost or the variable cost?
The opportunity cost is defined as alternative cost - costs measured in output of products and services forgone.It can't be defined as variable cost. In the simple formula p = 2q + 100, we can say that 2 is the variable cost. In other words: it's not fixed like the 100.Opportunity costs are not restricted to financial or monetary costs though. The real costs of output forgone (e.g. when choosing between a number of products like shotguns and bananas), lost time / pleasure, or any other benefit that provides benefit should also be considered opportunity costs. Therefore real costs are part of opportunity costs.
What is the benefits and costs derived from the choices you make?
the opportunity cost
How opportunity cost is measured?
how is opportunity cost measured {Finding the value of the best options that is not chosen.}
Every time an action is undertaken by a consumer certain costs Emerge. What are The cost?
Opportunity Cost
What is all the alternatives to opportunity cost?
relevant cost may include fixed avoidable costs
How does opportunity cost vary?
Opportunity costs vary because people's desires for different objects vary. When a person gives up something that they want for something else that they want they have created an opportunity cost.
What is the financial and opportunity costs consumers pay when looking for a good or service?
search cost
Which of the following best describes the relationship between trade-offs and opportunity costs?
opportunity cost are incurred when trade-offs are made
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 :)
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 :)
