4
answers
0
watching
258
views
25 Nov 2019
Increasing marginal opportunity cost implies that
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that rising opportunity costs makes it inefficient to produce beyond a certain quantity
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the more resources already devoted to any activity, the benefits from allocating yet more resources to that activity decreases by progressively larger amounts
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the more resources already devoted to any activity, the payoff from allocating yet more resources to that activity increases by progressively smaller amounts.
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the law of scarcity
Increasing marginal opportunity cost implies that
-
that rising opportunity costs makes it inefficient to produce beyond a certain quantity
-
the more resources already devoted to any activity, the benefits from allocating yet more resources to that activity decreases by progressively larger amounts
-
the more resources already devoted to any activity, the payoff from allocating yet more resources to that activity increases by progressively smaller amounts.
-
the law of scarcity
21 Jul 2023
Sixta KovacekLv2
25 Nov 2019
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