Because people have opportunity costs. d. limited resources cannot satisfy all of the wants in society . The law of increasing opportunity costs exists because: A. resources are not equally efficient in producing various goods. Greed. b. efficiency is measured by the monetary cost of an activity. b. wants are scarce relative to resources. Services, Opportunity Cost: Definition, Calculations & Examples, Working Scholars® Bringing Tuition-Free College to the Community. 3 Answers. Expert Answer 100% (3 ratings) Previous question Next question Transcribed Image Text from this Question. হযরতওয়ালা মুফতী মনসূরুল হক সাহেব দা.বা এর লিখিত সকল কিতাব পাওয়ার জন্য ক্লিক করুন । Add your answer and earn points. c. people have different tastes and preferences . With implicit opportunity costs, the formula is moderately different, primarily because there is no direct accounting cost stemming from implicit opportunity cost (i.e., you chose to … The opportunity cost includes both explicit and implicit costs. 2. Opportunity Cost Exists Because Of O A. No menu assigned! Because scarcity exists. Question 7 4 / 4 pts Which of the following is not one of the four broad categories of resources? Poverty. ewomazinoade … It is preferable to keep a track of drafts and alterations with dates so no charges of infringement can come upon. Opportunity costs exist because:? O B. See the answer. Show transcribed image text. c. the law of comparative advantage is working. Question: Opportunity Cost Exists Because Of O A. O B. Correct answer to the question There is an opportunity cost for all economic choices because what - e-eduanswers.com O C. Scarcity. b. technology is not fixed in the economy . Press enter to begin your search. Opportunity costs represent the potential benef It has a systematic body of knowledge b. a. there is a price attached to virtually every good or service . Because people have too many needs and not enough wants. This problem has been solved! OD. Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. 1. Gomer decides to spend an hour playing basketball rather than studying. Therefore option C is correct. Relevance. OD. the concept of opportunity cost exists because quizlet the cost of haircuts received during the school term. Self-interest. Answer Save. I. Definitions. unlimited wants and limited resources. The company has deprived the shareholders of this earnings by retaining a part of profit with it. Export steel b. a) I, II and III. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor. O C. Scarcity. Scarcity exists because of. Greed. Poverty. Opportunity cost exists because a. technology is fixed at any point in time b. the law of comparative advantage is working c. resources are scarce but wants are unlimited d. the value of lost opportunities varies from person to person e. efficiency is measured by the monetary cost of an activity ANS: C 2. c. households and businesses make rational decisions. B. the value of the dollar has diminished historically because of persistent inflation. e. he production possibilities frontier is bowed in with respect to the origin. Anonymous. d. most decisions do not involve sacrifices or trade-offs. 62. d. technology is fixed at any point in time. 1 See answer soccerallstar6057 is waiting for your help. His opportunity cost is: the benefit to his grades from studying for an hour. Opportunity cost exists because: a. the value of lost opportunities varies from person to person. Because price exists. If the law of increasing opportunity costs is operable,and currently the opportunity cost of producing the 1,000th unit of good X is 0.5Y,then the opportunity cost of producing the 2,001st unit of good is X is most likely to be A) less than 0.5Y. D. consumers tend to value any good more highly when they have little of it. Opportunity costs exist because: a. the decision to engage in one activity means forgoing some other activity. The opportunity cost of attending university is likely to include all except which of the following? C. wage rates invariably rise as the economy approaches full employment. e. resources are scarce but wants are unlimited. Self-interest.
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