opportunity cost of x is equal to y over x. The answer then becomes the slope for the graph.
Look up Production Possibility Frontier, it is the same thing as a Opportunity Cost Curve.
formula for beverage cost ratio
Don't drop out of school
They do not offer franchise opportunity
No, scarcity, choice and opportunity are not related to cost. All of these aspects of business are related to availability. Sometimes, costs plays a role though.
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Opportunity cost is something for the next porpose.
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Opportunity Cost can vary depending on what you are giving up exactly.
The opportunity cost is defined as alternative cost - costs measured in output of products and services forgone.It can't be defined as variable cost. In the simple formula p = 2q + 100, we can say that 2 is the variable cost. In other words: it's not fixed like the 100.Opportunity costs are not restricted to financial or monetary costs though. The real costs of output forgone (e.g. when choosing between a number of products like shotguns and bananas), lost time / pleasure, or any other benefit that provides benefit should also be considered opportunity costs. Therefore real costs are part of opportunity costs.
As we decide to choose more units of anything, the opportunity cost of each additional unit will rise. This means that the opportunity cost of the second unit will be greater than that of the first unit. The opportunity cost of the third unit will be greater than that of the second unit. And so forththe law of opportunity cost states that the more of a product that is produced,the greater is its opportunity cost,hence increasing marginal opportunity cost in simple terms refers to an extra or additional opportunity cost of foregoing other products to produce a unit of another product
Real cost is the price which is real not a fake price
Opportunity cost is fundamental in understanding the true economist cost (and thus profitability) of actions.
The opportunity cost of holding money is the nominal interest rate.
The scarcer the resourse the greater the opportunity cost