WebCan opportunity cost be zero? What market structure are cellphones in? Why is the marginal cost curve in the short-run u-shaped? Outline criticisms of Von Thunen's Theory of Economic Rent. ... WebIn microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. ... When economic profit is zero, all the explicit and implicit costs (opportunity costs) are covered by the total revenue and there is ...
What is scarcity and how does scarcity influence opportunity cost ...
WebHere are some common opportunity cost example in business to give you a better understanding of the concept:. 1. When a company spends $1 million on interest for overall debt, the opportunity cost is the aspects of the business the money could have been spent on, like upscaling, marketing, or product development. WebAnswer and Explanation: 1. Become a Study.com member to unlock this answer! Create your account. View this answer. Zero opportunity costs can arise if there are no alternatives available in the economy. It can arise if one individual is purchasing the products... See full answer below. five thousand fingers of dr t
Economic Profit vs. Accounting Profit: What
WebDec 30, 2024 · An investor calculates the opportunity cost by comparing the returns of two options. This can be done during the decision-making process by estimating future returns. Alternatively, the opportunity cost … WebThe Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. The PPC can be used to illustrate the concepts of scarcity, opportunity cost, efficiency, inefficiency, economic … Even with the destroyed factories, less laborers, etcetera there is still an … Learn for free about math, art, computer programming, economics, physics, … This is my personal interpretation of it: each point on the PPC are the most efficient … WebExpert Answers. No, there can never be zero opportunity cost for anything that we human beings do in this life. In order to see why this is so, let us first look at the definition of … can i wear makeup to my botox appointment