Cryptocurrency Q&A
What happens when opportunity cost decreases?
What happens when opportunity cost decreases?
Leonardo
Mon Jan 13 2025
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7 answers
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I want to understand the economic effects of a decrease in opportunity cost. Specifically, how does a reduction in opportunity cost impact decision-making and resource allocation?
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EclipseSeeker
Wed Jan 15 2025
This is due to economies of scale and the efficient use of resources.
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KimonoGlitter
Wed Jan 15 2025
The concept of decreasing opportunity cost is a fundamental principle in economics.
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SeoulSerenity
Wed Jan 15 2025
It suggests that a firm's opportunity cost diminishes as production levels decline.
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henry_harrison_philosopher
Wed Jan 15 2025
This is because resources that were previously allocated to production can now be utilized elsewhere.
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GwanghwamunGuardianAngel
Wed Jan 15 2025
When the cost of producing one unit of a product decreases, the cost of producing the next unit also tends to decrease.
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