With the same cost structure for a 500 square foot driveway repair, the cost per square foot would be $300 + 500*$5 = $2800, or $5.60 per square foot. As you can see, the size of the job has a significant cost on the unit price (price per square foot). The alternative to concrete leveling is concrete replacement.ith the same cost structure for a 500 square foot driveway repair, the cost per square foot would be $300 + 500*$5 = $2800, or $5.60 per square foot. As you can see, the size of the job has a significant cost on the unit price (price per square foot). The alternative to concrete leveling is concrete replacement.
What does law of increasing opportunity cost express? Answer . The law of increasing opportunity costs states that as production of a product increases, the cost to produce an additional unit of that product increases as well. â¦ This law is responsible for the bowed shape of the production possibilities curve.
The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve.