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.
Question: Production Possibility Frontier Draw a PPF curve.... Production Possibility Frontier. Draw a PPF curve. Label the horizontal axis with a good that you use and the vertical axis with a substitute for that good. Include the following points: A - inefficient point. B - efficient point. C - unattainable. What shape does a PPF take if it displays increasing opportunity costs? What about if there are constant opportunity costs? Which shape is most common in production situations? Why?. What does the term increasing opportunity cost mean? Give an example of when you have experienced increasing opportunity cost and explain why you would describe it as increasing opportunity cost. Draw out a PPF curve with 2 consumer goods â you can pick the goods. It can either be increasing opportunity cost or constant opportunity cost. Demonstrate using points A and B the trade off or opportunity cost you face moving from one point to another.