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because resources are not equally efficient in producing various goods
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∙ 13y ago
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Why is the ppf concave to the origin?
because it has increasing opportunity costs
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 is the correct answer for this question- The law of increasing opportunity costs is a result of the fact that?
12
What does law of increasing opportunity cost express?
The law of increasing opportunity costs states that as production of a product increases, the cost to produce an additional unit of that product increases as well. This law is responsible for the bowed shape of the production possibilities curve. Because not all of our economy's resources are equally well-suited to the production of a single good, the increasing opportunity cost is present.
What characteristics lead to an upward-sloping supply curve?
Increasing opportunity costs.Increasing marginal costs.
Why is the ppf concave to the origin?
because it has increasing opportunity costs
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.
Law of increasing opportunity costs reflected in a PPC is concave to the origin?
The Law of Increasing Opportunity Cost that is shown in a Production Possibilities Curve is concave to the origin. This is because it shows the maximum gain of two products used in production.
What is the correct answer for this question- The law of increasing opportunity costs is a result of the fact that?
12
What does law of increasing opportunity cost express?
The law of increasing opportunity costs states that as production of a product increases, the cost to produce an additional unit of that product increases as well. This law is responsible for the bowed shape of the production possibilities curve. Because not all of our economy's resources are equally well-suited to the production of a single good, the increasing opportunity cost is present.
What characteristics lead to an upward-sloping supply curve?
Increasing opportunity costs.Increasing marginal costs.
How does a production possibilities curve illustrate Opportunity costs?
It shows weather the item you are talking about is increasing or decreasing.
Moving left to right the typical production possibilities curve ahas a constant neg. slope b has a constant posit. slope cillustrates increasing opportunity costs d ill. decreasing oppor. cost.?
Moving from left to right, the typical production possibilities curve:C)illustrates increasing opportunity costsFeedback: The typical curve is bowed out from the origin, reflecting increasing sacrifices of one good as the other is increased. This is the principle of increasing opportunity costs.
Moving left to right the typical production possibilities curve ahas a constant neg slope b has a constant posit slope cillustrates increasing opportunity costs d ill decreasing oppor cost?
Moving from left to right, the typical production possibilities curve:C)illustrates increasing opportunity costsFeedback: The typical curve is bowed out from the origin, reflecting increasing sacrifices of one good as the other is increased. This is the principle of increasing opportunity costs.
Law of decreasing opportunity cost?
The law of decreasing opportunity cost states that as a producer shifts resources from one good to another, the opportunity cost of producing additional units of the second good will decrease. This is because resources are not equally productive in all activities, leading to diminishing returns as more resources are allocated to a single activity.
Why can't opportunity costs exist without scarcity?
because opportunity itself is scarce too
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
