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Taking is the opposite of giving

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15y ago

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Find the cost function from marginal cost?

Marginal cost function is a derivative of the cost function. To get the cost function, you need to do the opposite, that is, integrate.


Relationship between fixed cost and variable cost?

There is a huge relationship between fixed cost and variable cost. These two costs are the opposite of each other.


What is the opposite of opportunity cost and how does it impact decision-making?

The opposite of opportunity cost is benefit or gain. When considering the benefit or gain of a decision instead of the opportunity cost, it can lead to a different perspective on decision-making. This can impact decision-making by focusing more on the potential positive outcomes rather than what is being given up.


What is oppotunity cost?

anything you give up in order to obtain something else. It can be your time when choosing between going to that ball game or studying for your exam. If you go to the ball game the cost was giving up time to study.


Does an opportunity cost have value?

opportunity cost can have a value, especially if you are looking at such things as the college/job thing. If you go to college rather than take a job, your opportunity cost is the amount of money you lose from not working at the job. Opportunity cost does not always have to have a value. Again with the college/job example, if you take a job rather than go to college, your opportunity cost can be things like more education and college memories, etc. Opportunity cost is simply "what you give up". Therefore, if you are giving up money, your opportunity cost has a monetary value. If you are giving up education or experience or the like, your opportunity cost technically has no monetary value, but you are still giving something up. Hope that answers the question.