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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 16
Circle the letter that corresponds to the best answer. The law of increasing costs states that, as _____.
A) output rises, cost per unit rises as well
B) the output of one good expands, the opportunity cost of producing additional units of this good increases
C) economies of scale set in, costs increase
D) output rises, diminishing returns set in
A) output rises, cost per unit rises as well
B) the output of one good expands, the opportunity cost of producing additional units of this good increases
C) economies of scale set in, costs increase
D) output rises, diminishing returns set in
Explanation
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Verified
The law of the opportunity cost is based...
Macroeconomics 11th Edition by Stephen Slavin
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