0
What else can I help you with?
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.
How does the law of variable proportion affect the cost curve?
As we know law of variable proportion means as we increase the quantity of one input keeping other input fix... the Total physical product increase @ increasing rate than increase at decreasing rate than at decreasing rate.... and cost curve is totally dependent upon total variable cost curve.... so if the output is increasing this is due to increase in variable factors( labors) and if labors increase the cost will be obviously more as the labor increase....+
What is sterling's law in the medical field?
It's a law that no doctors know.That is an awesome comment...well done, be proud of yourself.Starlings (w/ an a, not e) law shows us that increasing the stretch of a muscle (cardiac for example) increases troponin's sensitivity to calcium. Therefore the same concentration of calcium will cause a greater number of myofilament crossbridges to interact and so a greater force will be produced.
How does an observation become a scientific law?
To create a theory/law: 1. Start with an idea 2. Do some experiments 3. Do the experiments is support the idea? No? Bad idea 4. Yes, then theory is created 5. Get more information to better understand 6. Discover even more information 7. Modify theory 8. Does modification explain the idea? No? End of theory. 9. Yes? Explain the new evidence? 10. Improve the theory 11. Law. See link below:
Relationship between fixed cost average cost and marginal cost with graph?
Your fixed cost is going to be lower than you average cost and marginal cost as it is what you have to pay no matter what. If your business has a fixed cost of $800 (renting the building, insurance, and other things that don't change month to month) per month you and utilities, pay roll, and inventory to that (all things that change month to month) and average the amount out over, lets just say, a year this will allow you to subtract the average cost from the fixed cost to get the average marginal cost. You can deduce that the marginal cost month by month is the total minus the fixed. Draw your own graph. Another way of putting it.. Average Cost curve has a U shape and the Marginal Cost curve intersects the Average Cost curve at its minimum. Average Cost has U shape because when a firm starts producing initially, it experiences increasing returns - as the Fixed Costs are being spread over more levels of output and the combination of input factors reach optimum. This is where AC curve is falling. Then once the Short-run capacity constraints of the Fixed Inputs is reached, the firm begins to experience diminishing marginal returns to its variable inputs. In other words, the principle of diminishing returns is becoming more dominant. This is where AC curve is increasing. When MC is below AC, AC is falling because producing an extra output will pull down average costs. When MC is above AC, AC is rising, because producing an extra output will increase AC. Therefore MC always intercepts a U shaped AC curve at its minimum point.
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 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 is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable 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 name of the law that states that as we shift factors of production from making one good or service to another the cost of producing the second item increases?
the law of increasing costs
What is the name of law that states that as we shift factors of productions from making one good or services to another the cost of producing the second item increases?
the law of increasing costs
What is the name of the law that states that as we shift factor of production from making one goods or service to another the cost of producing the second item increase?
the law of increasing costs
What is the name of the law that states that as we shift factors of production from making one good or service to another the cost of producing the second item increase?
the law of increasing costs
What is the name of the law that states that as we shift factors of production of making one good or service to another the cost of making the second item increases?
the law of increasing costs
What is the name of the law that states that AS we shift factors of production from making one good or services to another the cost of production the second item increased?
the law of increasing costs
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 the law of increasing marginal cost impact the production decisions of firms?
The law of increasing marginal cost states that as a firm produces more units of a good, the cost of producing each additional unit increases. This impacts production decisions by causing firms to consider whether the additional cost of producing more units is worth the potential revenue they can generate from selling those units. Firms must weigh the increasing costs against the potential benefits to determine the optimal level of production.
