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What is the law of decreasing opportunity cost?

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Answer:

The law states that the amount of commodity A that you forego to produce commodity B reduces as you produce more of commodity B

First answer by ID3423603418. Last edit by Gugz4g. Contributor trust: 1 [recommend contributor ]. Question popularity: 4 [recommend question].

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What is the law of decreasing opportunity cost theory?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
What is law of increasing opportunity cost?
The law of increasing opportunity costs states that as production of a product increases, the cost to produce an additional unit of that product increases as well. (Some resources are specialized to...
What is decreasing opportunity cost?
the amount of one good that has to be sacrificed to produce one more unit of another good.
What generates the law of increasing opportunity costs?
The law of increasing opportunity costs states that the more of a product that is produced the greater is its opportunity cost.
What does the law of increasing opportunity costs explain?
the increasing amounts of one commodity that a nation must give up to release just enough resources to produce each additional unit of another commodity. THis is reflected in a production frontier...