Talk:Cost: Difference between revisions
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Is the law of increasing opportunity costs generally recognized to be a real phenomenon? Basically, it says that as an economy shifts production from, say, guns to butter, it starts out by shifting resources that are relatively convertible, but as production gets more and more lopsided toward butter, it ends up shifting resources (e.g. trained gunsmiths) that would have been quite suitable for gun production but are not very suitable to butter production. So the opportunity cost of producing each additional unit of butter increases. [[User: | Is the law of increasing opportunity costs generally recognized to be a real phenomenon? Basically, it says that as an economy shifts production from, say, guns to butter, it starts out by shifting resources that are relatively convertible, but as production gets more and more lopsided toward butter, it ends up shifting resources (e.g. trained gunsmiths) that would have been quite suitable for gun production but are not very suitable to butter production. So the opportunity cost of producing each additional unit of butter increases. [[User:FormerContributor-78162cb3|FormerContributor-78162cb3]] ([[User talk:FormerContributor-78162cb3|talk]]) 00:48, 17 July 2012 (MSD) | ||
Latest revision as of 07:05, 23 July 2026
Is the law of increasing opportunity costs generally recognized to be a real phenomenon? Basically, it says that as an economy shifts production from, say, guns to butter, it starts out by shifting resources that are relatively convertible, but as production gets more and more lopsided toward butter, it ends up shifting resources (e.g. trained gunsmiths) that would have been quite suitable for gun production but are not very suitable to butter production. So the opportunity cost of producing each additional unit of butter increases. FormerContributor-78162cb3 (talk) 00:48, 17 July 2012 (MSD)