thanks a lot 😊 but what if we are asked to calculate the opportunity cost for the pillows? because the opportunity cost calculated is only for the linear sheets if I'm not mistaken.....response from anyone concerning this will be highly appreciated.
Suppose a worker can produce 15 computers or 5 tonnes of grain then what about be her opportunity cost of 1 computer and 1 tonne of grain? please explain to me with as much detail as possible!
If the ratio is 15 computers and 5 tons of grain then the opportunity cost of 1 computer is 5/15 = 0.33 tons of grain. The opportunity cost of 1 ton of grain is 15/5 = 3 computers.
lostmy1 that's marginal cost because you are looking at one unit of something. Opportunity cost is always calculated for a move from scenario A to Scenario B along the production possibilities frontier
Thank you very much sir. I truly understood the meaning of opportunity cost from your video only. Very good explanation.👌👌👌👏👏.
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Thank you for providing this video. It's very important. Please, make another video about economic development vs growth.
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this is increaseing opportunity cost... please make the video about decreasing opportunity cost like this video
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thanks a lot 😊 but what if we are asked to calculate the opportunity cost for the pillows? because the opportunity cost calculated is only for the linear sheets if I'm not mistaken.....response from anyone concerning this will be highly appreciated.
Chinyama Hamachila the opportunity cost of the increase in pillow production would be like for example OC from point C to B= 1/5
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If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of X?
Really really thank you ,, I prefer this way to calculate O.C
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What if it says to find E to D point
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Please understand the schedule
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I'm confused if small numbers minus the big number what will be answer ..i need some help...
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Can anyone advise how many videos are in this lesson? Trying to follow the sequence.
Thank you for any help.
Tq so much
Suppose a worker can produce 15 computers or 5 tonnes of grain then what about be her opportunity cost of 1 computer and 1 tonne of grain? please explain to me with as much detail as possible!
If the ratio is 15 computers and 5 tons of grain then the opportunity cost of 1 computer is 5/15 = 0.33 tons of grain. The opportunity cost of 1 ton of grain is 15/5 = 3 computers.
lostmy1 thank you, it seems opportunity cost is not as complicated as i made it seem..
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lostmy1 that's marginal cost because you are looking at one unit of something. Opportunity cost is always calculated for a move from scenario A to Scenario B along the production possibilities frontier
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What if it says to find E to D point
Thank you
What if it says to find E to D point