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| 1. |
Define Marginal opportunity cost along a ppc? |
| Answer» Marginal opportunity cost refers to opportunity per unit of additional crop of output 2 when resources continuously shifted from one opportunity to another opportunity.<br>Thank you<br>The marginal opportunity cost for a comodity is the admount of other goods which has to be given up in order to produce an additional unit of that commodityProduction Possibilities Curve(PPC) of Marginal Opportunity costMarginal opportunity cost of one commodity (say \'x\') means the amount of another commodity (say \'y\') which is sacrified to have an additional unit of \'X\' commodity. Marginal opportunity cost is generally increasing.It means more and more of the other good has to be sacrifised to have per unit increase of the former commodity | |