Question
“As we increase the production of one good, the
opportunity cost to produce the additional good will also increase”, this is stated inSolution
The law of increasing opportunity cost states that as we increase the production of one good, the opportunity cost to produce the additional good will also increase. Opportunity cost is the value of the next-best alternative when a decision is made. It is also known as alternate cost.
Pipe ‘A’ can fill a tank in 20 hours while pipe ‘B’ takes 30 hours to empty it. Pipe ‘A’ is opened alone when the tank was empty and after 1...
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Two pipes 'P' and 'Q' together can fill a tank in 16 minutes while 'Q' alone can fill the tank in 24 minutes. How much time does pipe 'P' alone need to ...
Pipe ‘A’ can fill a tank in 30 hours whereas leak ‘A’ can empty it in 45 hours. If they both operate along with pipe ‘B’, then the given tan...
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