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Answered 2011-05-03 20:20:38

because resources are not equally efficient in producing various goods

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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 characteristics lead to an upward-sloping supply curve?

Increasing opportunity costs.Increasing marginal costs.


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.


The reason that the production possibilities curve bows outward from the origin is that......?

Opportunity costs are increasing.


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.


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.


Can opportunity costs always be measured?

Opportunity costs cannot always be measured, because it might be satisfaction that is lost. At other times, however, opportunity cost can be measured.


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.


Why can't opportunity costs exist without scarcity?

because opportunity itself is scarce too


What are opportunity costs?

Opportunity costs are losses that occur when one alternative is chosen over another. Opportunity costs are also known as trade offs.


When are opportunity costs present?

Every time a choice is made, opportunity costs are assumed.


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.


The law of increasing opportunity costs indicates that.........?

To produce more of one good, society must sacrifice larger and larget amount of alternative goods.


What is law of increasing opportunity cost?

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. (Some resources are specialized to only effeciently produce one product so using those specialized resources on a different product is inefficient)


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 are the examples to increase the opportunity cost in tourism?

the increased opportunity costs in tourism


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...


What does the law of increasing opportunity costs explain?

the increasing amounts of one commodity that a nation must give up to release just enough resources to produce each additional unit of another commodity. THis is reflected in a production frontier that is concave from the origin.


Why is ppc bowed out?

hey-- its the law of increasing costs. as you make one thing, your opportunity cost increases because you cannot make the other. therefore, the more of one thing you make, the larger the cost will be because you cannot make the other. therefore, the shape of the production possibilities curve is bowed out.


Did the Civil War change any opportunity costs in the South?

yes it did because the slaves provided them with there source of income


Why do production possibilties frontiers tend to curve because they show?

the increasing costs resulting in increasingly less output


The law of increasing costs means that when an economy increases the production of one item .?

what law of increasing costs means that when an economy increases the production of one item _____.


Production possibilities frontiers curve when they are charted on a graph because they show?

the increasing costs resulting in increasingly less output