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Define opportunity and marginal opportunity cost …

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Define opportunity and marginal opportunity cost with the help of PPc

Posted by Shashank Rai 7 years, 7 months ago

CBSE > Class 12 > Economics

2 answers

Shivangi Goel 7 years, 7 months ago

Hence , OPPORTUNITY COST is the value of a factor in its next best alternative use.....or .... It is the cost when (in terms of loss of output)when resources are shifted from use1to use2....MARGINAL COST is the cost of per unit of additional output of crop2 when crop2 is to be sacrificed.it refers to the slope of ppc.

Shivangi Goel 7 years, 7 months ago

Here we can write only answers.....it is not possible to explain with diagram of ppc.

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