Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
True
B
False
Understanding the Answer
Let's break down why this is correct
Answer
The opportunity cost of producing one more phone is not always the same; it can change based on how many phones are already being made. Opportunity cost refers to what you give up when you choose one option over another. For example, if a factory is making 10 phones and decides to make one more, it might have to reduce the production of another item, like tablets. However, if the factory is already making 100 phones, the resources needed for one more phone might come from reducing the number of other phones made instead. This means that the opportunity cost can vary depending on the current production levels and the resources available.
Detailed Explanation
The opportunity cost changes based on how many phones are made. Other options are incorrect because Some might think that the cost stays the same no matter what.
Key Concepts
Opportunity Cost
Resource Allocation
Trade-offs
Topic
Opportunity Cost Analysis
Difficulty
medium level question
Cognitive Level
understand
Ready to Master More Topics?
Join thousands of students using Seekh's interactive learning platform to excel in their studies with personalized practice and detailed explanations.