The "law of supply" holds because as the price of a good increases, the opportunity cost of:
A) not producing the good increases
B) producing the good decreases
C) not producing the good decreases
D) producing the good increases
Please help if you can...thanks!
2006-06-26 07:37:10 · 3 answers · asked by Confused about life 1 in Education & Reference ➔ Primary & Secondary Education
A - the opportunity cost is defined as the value of the most valuable alternative. Assuming you are not currently producing the good, the opportunity cost of not producing that good increases as the price of the good increases. Oh yeah....I'm definitely 100% sure, just like the other guy....who was WRONG!
2006-06-26 09:44:51 · answer #1 · answered by greenlila2401 1 · 0⤊ 1⤋
I'm sorry, I don't want to make a mistake by giving you the wrong answer. I'm doing an economics to but as Roosvelt (i think) said please can you find me an economics with only one hand - because economists says...it is this way...but on the other hand...
That's why I dont want to answer and lead you in mistake
Sorry!
P.S.
I wanted to answer- mine is that A,B are both ok, it depends from the situation....
Please just dont use this....
2006-07-02 14:11:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
B- im an economics major, im 100% sure of this
2006-06-26 14:41:01 · answer #3 · answered by oxygenride717 1 · 0⤊ 0⤋