The opportunity cost for the sports collector who chooses to purchase the hockey jersey instead of the baseball is <em>A. the cost of the ball.</em>
- In Economics, opportunity cost is described as the forgone benefits from an alternative not chosen.
- Opportunity cost refers to the benefits that is lost when an alternative course of action is preferred to another or when a product or service is chosen instead of its alternative.
- Opportunity cost is not the net value of the jersey or the ball or the cost of the jersey.
Thus, opportunity cost is the cost of the baseball that was not preferred since the benefit to be derived from the ball equals the cost.
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Explanation:
They can be described as possibly letting group members make decisions!
<u>Answer:</u>
<em>When multiple states were conquered which were far from each other, to make control effective, the Sumerian city- states were developed. </em>
<u>Explanation:</u>
Due to lack of transportation and technologies at that time, it was challenging to run a larger empire. <em>Due to the larger area, the control was limited to a limited area, especially cities. </em>
Leaders like Sargon of Akkad were able to conquer multiple city states. Also, they gathered multiple bureaucracies and used them to administer the conquered city states. <em>Thus, in such way the city states started to develop in Summer.</em>
Answer:
D. the existence of a fixed input that must be combined with increasing amounts of the variable input
Explanation:
The law of diminishing returns states that, at some point, increases in a factor of production will begin to cause smaller increases in output or diminishing output. For example, a company employs workers for manufacturing purposes in a factory and at some point production is at optimal level but at some point holding other inputs constant while increasing the other factor, production will begin to deviate from optimal and production will begin to decline
