--%>
Assignment Help - homework help

Explain about the Opportunity Cost in economics

Opportunity cost is explained as the value of the: (w) best alternative specified for the decision made. (x) sum of all alternative choices while a decision is made. (y) monetary cost of making a decision. (z) cost incurred while one ignores alternative choices.

I need a good response on the topic of Economic problem of opportunity cost. Please give me your suggestion.

   Related Questions in Public Economics

  • Q : Criterion for distributing The

    The requirements criterion for distributing income entails: (1) Government costless offering all goods required for survival. (2) High administrative costs as determining someone else’s wants are difficult. (3) Dividing the national income unifo

    		•
  • Q : Knowing the Property Rights Fee-simple

    Fee-simple property rights comprise the right to: (1) Demolish things you own, sell them, or confer them away.  (2) Duplicate a copyrighted work by paying the small fee. (3) Picnic in such publicly-owned facilities like national parks. (4) Employ

    		•
  • Q : Labor resources of society Hello guys I

    Hello guys I need your advice. Please suggest some views for following economics problems that what are labor resources of society: (i) Identical along with its population, (ii) The mental and physical talents people make obtainable f

    		•
  • Q : Payments to entrepreneurs in

    The payments to entrepreneurs are called as: (i) Profits increasing from bearing risk and uncertainty, innovating new products and organizing production as well as processes. (ii) Rental payments by extensive land holdings. (iii) Interest through loaning money. (iv) I

    		•
  • Q : Entrepreneur in economic profit

    Economic profit is the entrepreneur's: (i) payment to managers for their services. (ii) capital stock minus depreciation. (iii) reward for innovation and bearing risks. (iv) difference between monetary cost and total income. (v) opportunity cost for capital.

  • Q : Technological advance in costs All else

    All else equivalent, when the output of one good raises, the output of other goods: (1) Should fall in an underemployed economy. (2) May rise as well when society begins on its PPF. (3) Will drop in an efficient and completely employed economy. (4) Essentially experie

    		•
  • Q : Explain about the normative economics

    Please suggest me how to solve the problem of normative economics that is given below: Normative economics is: (w) a description of how the economy works. (x) based upon empirical studies. (y) concerned along with

    		•
  • Q : Major foundations of capitalism Can

    Can someone help me in finding out the right answer from the given options. Major foundations of the capitalism are as: (1) Private property and laissez faire govt. (2) Government enforcement of contracts and equivalent opportunity for all. (3) The ri

    		•
  • Q : Determine an example of net investment

    When gross investment is $100 billion whereas $10 billion of capital is worn out, in that case net investment is: (w) $90 billion. (x) $100 billion. (y) $110 billion. (z) not possible to calculate without more information.

    Q : Illustrates a problem of Distributive

    Bob the Baker and Bill the Butcher while both would be willing to trade three loaves of bread for a pair of T-Bone steaks, but for several reasons they not include: (i) Bob must become a vegetarian so he doesn't contain to rely upon Bill. (ii) The economy has producti

    		•