Increasing opportunity costs suggests that

Name: Increasing opportunity costs suggests that
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Increasing opportunity costs suggest that as more of one good is produced, the opportunity cost of producing an additional unit of that good will increase. This occurs when various types of labor are not perfect substitutes for one another, causing the production of each additional unit to require more resources, resulting in a higher opportunity cost.

Increasing Opportunity Costs Suggests That