The law of increasing opportunity costs states that the more of a product that is produced the greater is its opportunity cost.
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because resources are not equally efficient in producing various goods
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.
production possibilities curve convex to the origin. Elson Mendoza was here.
To produce more of one good, society must sacrifice larger and larget amount of alternative goods.
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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.
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.
because resources are not equally efficient in producing various goods
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.
production possibilities curve convex to the origin. Elson Mendoza was here.
To produce more of one good, society must sacrifice larger and larget amount of alternative goods.
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)
what law of increasing costs means that when an economy increases the production of one item _____.
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.
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...
Based on my macroeconomics book, economic resources are not completely adaptable to alternate universes.