The Principle of Increasing Opportunity Costs states that:
A)productive people do the hardest tasks first.
B)when increasing production, resources with the lowest opportunity costs should be used first.
C)when increasing production, resources with the lowest opportunity costs should be used last.
D)opportunity costs increase when too little is produceD.This principle is also known as the LowHangingFruit Principle: take advantage of your leastcost opportunities first.

Question

The Principle of Increasing Opportunity Costs states that:
A)productive people do the hardest tasks first.
B)when increasing production, resources with the lowest opportunity costs should be used first.
C)when increasing production, resources with the lowest opportunity costs should be used last.
D)opportunity costs increase when too little is produceD.This principle is also known as the Low­Hanging­Fruit Principle: take advantage of your least­cost opportunities first.

Quizplus · Accepted Answer

The Principle of Increasing Opportunity Costs suggests that as production increases, resources with the lowest opportunity costs should be used first to minimize costs, aligning with the Low-Hanging-Fruit Principle.

The Principle of Increasing Opportunity Costs States That