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Define Marginal Opportunity cost....

Define Marginal Opportunity cost.

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Marginal opportunity cost is an addition to the cost in terms of a number of units of a commodity sacrificed to produce an additional unit of another commodity.
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Knowledge Check

  • Opportunity cost in the:

    A
    Number of units sacrificed
    B
    Number of units gained
    C
    Cost of next best alternative foregone
    D
    None of these.

  • PPC is concave when marginal opportunity cost

    A
    falls
    B
    remains constant
    C
    rises
    D
    all of these

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