Explain about the Opportunity Cost in economics

Opportunity cost is explained as the value of the: (w) best alternative specified for the decision made. (x) sum of all alternative choices while a decision is made. (y) monetary cost of making a decision. (z) cost incurred while one ignores alternative choices.

I need a good response on the topic of Economic problem of opportunity cost. Please give me your suggestion.

View Complete Question

Related Questions in Public Economics

Q : Calculate the net investment of machines

Freddy's Fabulous Faux Frisbee Factory consists of fifty rapid frisbee forming machines. In recent year Freddy bought new fifteen rapid frisbee forming machines as well as retired five of them, all they are resulting within: (1) Net investment of 10 machines. (2) Gros

Q : When is a good taken as scarce Can

Can anybody suggest me the proper explanation for given problem regarding scarcity in economics generally? A good is taken as scarce when people: (w) lack the funds required to make sure their survival. (x) require

Q : Illustrate the free goods in economic

Hey friends please give your opinion for the problem of free goods in Economic that is given below: The entire given are free goods EXCEPT the enjoyment people derive from as in below: (w) rain which waters our law

Q : Existence problem regarding each and

Can anybody suggest me the proper explanation for existence problem regarding every society. Every society should answer questions regarding “How?, for Whom? and What?” due to the exist

Q : Allocative Mechanisms and Efficiency

Allotment of resources and goods through tradition or brute force will most probable outcome in: (i) Inadequately low production. (ii) Equivalent income distributions. (iii) Democratic resource allocation. (iv) Production possibilities growth.

Q : Scaring people of a commodity or service

Hello guys I want your advice. Please recommend some views for given problem that when are people of a commodity or service scarce: (1) gain from having this obtainable, (2) Wish more than the amount freely obtainable, (3) Say no to p

Q : Economic problem of increase employment

I need a good answer on the topic of Economic problems. Please give me your suggestion that the concept that restricting steel imports will increase employment within the steel industry that is a: (w) normative argument. (x) Positive argument, since the idea can be te

Q : Building blocks for a capitalist system

Building blocks for a capitalist system comprise: (i) supplies and demands. (ii) private property rights. (iii) laissez-faire policies. (iv) market-determined prices and outputs. (v) All of the above.I need a good answer on the topic of Economic problems

Q : Explain Economics as the extensive

Economics can be explained as the extensive study of the effects of: (w) money and why having this is good. (x) production costs and profits. (y) how people attempt to gratify their boundless needs. (z) purchases, acquisitions and mergers.

Q : FUNDAMENTAL economic problems of

Society's FUNDAMENTAL economic problems do NOT comprise deciding: (w) what goods to produce. (x) how to produce the goods selected. (y) what occupation each person must pursue. (z) who must find to use the goods produced.

Discover Q & A

Leading Solution Library

Avail More Than 1414226 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1947556
Asked

3,689

Active Tutors

1414226

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment