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Global - the use of planetary resources
Corporate - how a business chooses to use the factors of production
Consumer - how people spend their money
and individual-how individuals spend their time.
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Opportunity cost curve?
Look up Production Possibility Frontier, it is the same thing as a Opportunity Cost Curve.
What is the opportunity cost formula?
opportunity cost of x is equal to y over x. The answer then becomes the slope for the graph.
What is the opportunity cost of dropping out of school?
Don't drop out of school
What is the cost of a regal cinema franchise?
They do not offer franchise opportunity
How are the concepts of scarcity choice and opportunity cost related?
No, scarcity, choice and opportunity are not related to cost. All of these aspects of business are related to availability. Sometimes, costs plays a role though.
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
How would you calculate the opportunity cost of your college education if you lived at home and went to college full time for four years?
employment opportunity time consuming
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
What calculates the opportunity cost?
Opportunity cost is something for the next porpose.
What is the Opportunity cost of a particular good?
The opportunity cost of a certain good is the cost of the next best good that you are forgoing. It is NOT a sum of all the other possibilities. It is just the cost of the next best alternative. For example: The opportunity cost of going to college is the money that you could have earned in a job. Say you spend $80,000 to go to college for four years, but if you had gotten a job right out of high school, you could have made $15,000 a year. The opportunity cost of attending college is the $60,000 you would have earned if you had gotten the job right out of high school.
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
What do you understand by the term opportunity cost?
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Why does opportunity cost vary?
Opportunity Cost can vary depending on what you are giving up exactly.
How much do postage scales cost on average?
The average cost of electronic postage scales is å£28.00. Salter scales are a popular choice. If you are running your own business then it makes sense to have your own scales and print postage labels from your computer.
What does increasing marginal opportunity cost mean?
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 forththe 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 is the difference between constant opportunity cost and increasing opportunity cost?
Real cost is the price which is real not a fake price
Why do you need to understand Opportunity cost?
Opportunity cost is fundamental in understanding the true economist cost (and thus profitability) of actions.
