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- As we decide to choose more units of anything, the opportunity cost of each additional unit will rise. This means that the opportunity cost of the second unit will be greater than that of the first unit. The opportunity cost of the third unit will be greater than that of the second unit. And so forth
- the law of opportunity cost states that the more of a product that is produced,the greater is its opportunity cost,hence increasing marginal opportunity cost in simple terms refers to an extra or additional opportunity cost of foregoing other products to produce a unit of another product
What else can I help you with?
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
What does the term marginal cost mean in the field of economics?
Marginal cost in economics means the cost that is not particularly big considering the other costs or investments that are required. It is used to state the cost and then make a very small allowance for it is required for accounting reasons.
What does on-the-margin mean?
On the margin means looking at the next unit of something. For example, when considering business decisions, you might consider the marginal cost of an additional unit of production, or the marginal revenue. (Rather than the average revenue, for instance.)
What does marginal costs mean?
In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
What does the term marginal cost mean in the field of economics?
Marginal cost in economics means the cost that is not particularly big considering the other costs or investments that are required. It is used to state the cost and then make a very small allowance for it is required for accounting reasons.
Does marginal profit and selling price mean the same thing?
Only if it cost you nothing in the first place. Profit is selling price less cost.
How much the marginal lands in Africa?
what do you mean by marginal lands?
What do you mean by Marginal Probabilities under statistical dependence?
What do you mean by Marginal probailities under statistical dependence
What does on-the-margin mean?
On the margin means looking at the next unit of something. For example, when considering business decisions, you might consider the marginal cost of an additional unit of production, or the marginal revenue. (Rather than the average revenue, for instance.)
What does on-margin mean?
On the margin means looking at the next unit of something. For example, when considering business decisions, you might consider the marginal cost of an additional unit of production, or the marginal revenue. (Rather than the average revenue, for instance.)
Does marginal mean minimal?
Similar-minimally acceptable.
What does WRP land mean?
The Wetlands Reserve Program (WRP) is a voluntary program to restore and protect wetlands on private property. It is an opportunity for landowners to receive financial incentives to enhance wetlands in exchange for retiring marginal agricultural land.
