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nevsk [136]
1 year ago
8

The ________ states that the opportunity cost of producing a good always rises as one produces more of it. group of answer choic

es
Business
1 answer:
quester [9]1 year ago
6 0

The <u>law of increasing relative cost </u>states that the opportunity cost of producing a good always rises as one produces more of it.

According to the law of increasing costs, production eventually loses efficiency as it grows. The labor expenses for each additional item will increase, for instance, if increased production requires overtime work from your workforce.

Opportunity cost is the value of other commodities or services you must forgo in order to get your desired item. The term "cost" as used by economists often refers to opportunity cost. Cost is frequently mentioned in conversations or on the news.

According to the law of increasing opportunity cost, the cost of manufacturing the next unit rises as you keep up with the production of a given good.

Find more about opportunity cost

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A country has constant opportunity cost of production. If they devote all of their resources to the production of blankets they
Zigmanuir [339]

Answer: 2.75 blankets.

Explanation:

The opportunity cost is the value of a good that is sacrificed by choosing some other alternative. So, there are certain costs associated with the consumption of some goods.

In our case,

Opportunity cost of producing 1 shirt = \frac{810}{294}

                                                              = 2.75 blankets

Opportunity cost of producing 1 shirt is 2.75 blankets which means that 2.75 blankets have to be foregone to produce 1 shirt.

7 0
3 years ago
After graduation in 2 years, Antwone would like to take a much needed vacation to the Caribbean Islands. He anticipates that the
Arisa [49]

Answer: $3,580.30 (converted to 2decimal places).

Antwone need to deposit " $3,580.30008” into the account each semi-annual period in order to take his vacation in 2 years

Explanation:

By using compound interest formula below to solve the question

A = p ( 1 + r/n)^nt

A = amount (future value)= $3,800

P = principal (present value) ?

r = annual nominal rate = 3%= 0.03

n = today number of compounding years = semiannually (2 interest payments period in a year) = 2

t = time in years =2

3,800 = p ( 1 + 0.03/2)^2(2)

3,800 = p ( 1 + 0.015 )^4

3,800 = p ( 1.015 ) ^4

3,800 = 1.06136355 p

divide both sides by 1.06136355

p = 3,800 / 1.06136355

p = $3,580.30008

≈$3,580.30 ( rounded off to 2d.p)

3 0
3 years ago
A top performing used car salesman is able to sell his cars to each customer at their maximum willing to pay, a practice known a
ira [324]
Answer: B. Perfect price discrimination
6 0
3 years ago
When reviewing a business communication, it is best to seek feedback from Multiple select question. random strangers, asking the
OLga [1]
Yes. This is correct.
6 0
2 years ago
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a
Nostrana [21]

Answer and Explanation:

The computation is shown below

a. The economic order quantity is

= sqrt ((2 × annual demand × ordering cost) ÷ carrying cost)

= sqrt ((2 × 1,215 × $10) ÷ $75)

=  18 units

b) Average number of bags on hand is

= EOQ ÷ 2

= 18 ÷ 2

= 9

c) Orders per year is

= D ÷ EOQ

= 1215 ÷ 18

= 67.5

= 68

d) Total cost = Total carrying cost+ Total ordering cost

= (Q ÷ 2)H +(D ÷ Q)S

= (18 ÷ 2)75 + (1215 ÷ 18) × 10

= 675 + 675

= $1350

3 0
2 years ago
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