3- The law of increasing costs holds that the opportunity cost: Question 10 opti

Question

3- The law of increasing costs holds that the opportunity cost: Question 10 options:
a- of a good decreases as the quantity of the good produced increases.
b- of a good is proportional to the resources used in its production.
c- of a good increases as more of the good is produced.
d- of a good does not change with the resources used its production.
e- changes as more of the good is produced. 3- The law of increasing costs holds that the opportunity cost: 3- The law of increasing costs holds that the opportunity cost:
a- of a good decreases as the quantity of the good produced increases.
b- of a good is proportional to the resources used in its production.
c- of a good increases as more of the good is produced.
d- of a good does not change with the resources used its production.
e- changes as more of the good is produced. a- of a good decreases as the quantity of the good produced increases. b- of a good is proportional to the resources used in its production. c- of a good increases as more of the good is produced. d- of a good does not change with the resources used its production. e- changes as more of the good is produced.
a- of a good decreases as the quantity of the good produced increases.
b- of a good is proportional to the resources used in its production.
c- of a good increases as more of the good is produced.
d- of a good does not change with the resources used its production.
e- changes as more of the good is produced.

Explanation / Answer

c- of a good increases as more of the good is produced.

The law of increasing costs is a principle that states that once all factors of production (land, labor, capital) are at maximum output and efficiency, producing more will cost more than average. As production increases, the opportunity cost does as well.

Related Questions

Navigate

• Browse (All)
• Browse 3
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.