opportunity cost of resources

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• Absolute and Comparative advantage

  James' opportunity cost of producing 80 pounds potatoes=40 chickens James' opportunity cost of producing 1 pound potatoes=40/80=0.50 chickens -What is James' opportunity cost of producing chickens?

• Microeconomics: Comparative Advantage in Producing Pigs and Corn

  The opportunity cost of producing pigs is the loss in production of corn due to allocation of resources for raising an additional pig.

• Opportunity cost

  Because resources are not perfectly adaptable to the production of both good A and good B, a. the opportunity cost of A increases as production of A increases b. the opportunity cost of A decreases as production of A increases c. it is impossible for

• Michelle's opportunity cost of potatoes

  Her opportunity cost of producing chickens is the reciprocal of her opportunity cost of producing potatoes or 4 potatoes per chicken. James opportunity costs are 2 potatoes per chicken and 1/2 chicken per potato.

• Why Countries Trade with Each Other

  According to the law of comparative advantage, a country should focus on (specialize) in producing and exporting resources which it can produce at the least opportunity cost and import the resources for which it is a high cost-producer.

• Opportunity cost

  448761 Opportunity cost Explain "opportunity cost" and how it relates to the definition of economics.

• Comparative Advantage of Potatoes and Chickens

  cost of producing potatoes = 40 chicken/80 pound of potatoes =1/2 chicken per pound of potatoes d) James’ opportunity cost of raising chickens = 80/40 = 2 pound of potatoes per chicken [Note: To calculate opportunity cost it is easier if you

• Evaluating a new investment opportunity

  ( Resources will include all kind of resources such as human, physical and financial) 1. For investments involving significant risk, the cost of capital is equal to the: rate of return on the investment.

• Microeconomics is considered to be the study of scarce resou

  So, should these resources be used in practice to produce 500,000 units of bread, there will be an opportunity cost in terms of cars.

• decreasing marginal opportunity cost

  The opportunity cost or alternative costs are the returns from the second best use of the organization's resources or here in this case the individual's capability.