What is a good way to calculate opportunity cost?

Q: Shannon has decided to spend less time on social media because she needs to improve her grades. What…

A: In economics, an opportunity cost represents the potential benefits a consumer, individual or…

Q: What role does the profit motive play in a market economy?

A: Profits are the factor payment to an organization. Profits are important for a business to run. If…

Q: What is opportunity cost?

A: "In economics, cost refers to the value of money that is spent in order to produce a good." Costs…

Q: what is the potential opportunity cost of watching a lot tv show.

A: If a lot of television is watched, then it reduces the time available for other activities, for…

Q: Define the opportunity cost . What is the significance of opportunity cost in economics.

A: Opportunity Cost Opportunity cost is the cost of next best foregone.When a person, an investor, or a…

Q: What does the principle of increasing marginal opportunity costs mean

A: Opportunity cost represents the financial cost of the economy regarding a business in making…

Q: How is willingness to pay determined by opportunity cost?

A: Opportunity cost refers to the cost by which an individual uses something and sacrifices the other…

Q: What is opportunity cost and how can this concept be applied in real life?

A: In economics, opportunity cost is an important concept to study as it has significance in making…

Q: Class, if I give you a “free” ticket to the Opera House downtown, would you necessarily go? How can…

A: Opportunity cost is the value of next best alternative, that is benefit that could have been derived…

Q: The term "opportunity cost" points out that *

A: In economics, there are different types of costs associated with a specific economic activity and…

Q: how do you deal with opportunity cost

A: Opportunity cost is the cost or value of the next best alternative which an individual foregoes to…

Q: What does the law of increasing opportunity cost state?

A: Law of Increasing opportunity cost staes that when the production of a particular product is…

Q: does scarcity relates to price

A: Scarcity is the state of having shortage of resources than actually required.

Q: growing opportunity What would the curve cts . like if opportunity costs fixed? (Voice you onse or…

A: When the production possibility curve is concave in shape then the opportunity cost is increasing.…

Q: What is the marginal opportunity cost to Fred of buying one milkshake? If Fred buys six milkshakes,…

A: Opportunity cost is the cost of next best alternative use. It is the cost which a person occur, when…

Q: What is the opportunity cost of moving from point I to point D? Explain.

A: The maximum output of two items utilizing a fixed amount of input is measured by a production…

Q: What implication does resource scarcity have for the satisfaction of wants?

A: To find : What do resource scarcity fo for satisfaction.

Q: Paul's PPF Sue's PPF Cheese Cheese 100 60 40 32 36 60 Ham 42 90 Ham According to the graph above,…

A: Opportunity cost is the benefit that might have been gained if a different available alternative had…

Q: Difference between opportunity cost and money cost

A: In economics, cost is the monetary value of material resources, time and effort expended, and risks…

Q: What is the difference between comparable advantage and absolute advantage?

A: International Trade is the exchange of various goods and services with foreign countries.  The…

Q: What are Opportunity Costs? How is it different from Cost Benefits? (2 PAGES)

A: A producer's expenditure on factor and non-factor inputs for a specific amount of production of a…

Q: what is the difference between the concept of trade off and opportunity cost?

A: For the given question, the difference between trade offs and opportunity cost need to be discussed.…

Q: What is the opportunity cost of increasing the number of movies produced?

A: Opportunity cost refers to the given up benefits to obtain some other benefits.

Q: Q1: What is opportunity cost? Q2: Explain with example.

A: Opportunity cost is also known as displacement cost.

Q: What do opportunity costs represent?

A: A trade-off is a situation, where making one choice or purchasing one good means losing the chance…

Q: What is the best explanation of opportunity cost in economics. Explain with example.

A: Opportunity cost The cost of choosing one option/things over another is known as opportunity…

Q: What is the opportunity cost in economics?

A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…

Q: How can opportunity cost affect behavior?

A: The opportunity cost of any activity is the benefit from the next best alternative foregone to…

Q: Define the term opportunity cost?

A: The opportunity cost is the cost which is incurred by not enjoying the benefits related to the next…

Q: When do we use Opportunity-Cost Approach?

A: The opportunity - cost approach helps to determine the second best alternative available or an…

Q: When an economist say a resource is free what does it mean

A: Free Resources A resource that can be used to manufacture consumer-satisfying products and services…

Q: How do constraints affect decision making?

A: A type of external constraint is economic constraints. An external constraint is a factor in the…

Q: What is the opportunity cost of beer as production moves from point C to Point A?.

A: Opportunity cost in PPC is the marginal rate of transformation. MRT= Loss/Gain MRT from point C to…

Q: WHY IS ECONOMICS RELEVANT VERSUS IMPORTANT?

A: Allocation of resources is the distribution of available resources and assets among various works…

Q: what first sink in your mind when we call applied economics

A: In an economy, the study of economics is further classified into parts such as public economics,…

Q: What is opportunity cost in both terms tangible and intangible. Explain with the help of examples?

A: The limited availability of a resource or good against a theoretically unlimited requirement is…

Q: Does an increase in the opportunity cost mean that you have to give up more to obtain something…

A: The benefit which is forgone that would, in turn, had been derived through an option not being…

Q: How does marginality work in economics?

A: when we have two variables say x and y, the change in amount of x caused by one unit change in y is…

Q: Is it the possible for a person incur an opportunity cost without spending money?

A: Opportunity cost refers to the resources that are given up to produce some other good. Yes, it is…