The law of increasing costs states that
A) opportunity costs decrease as more of one good is produced.
B) increasing resource prices are inevitable because of scarcity.
C) opportunity costs increase as more of one good is produced.
D) resources can be easily adapted to the production of any gooD.
E) economic growth is always associated with inflation.
Correct Answer:
Verified
Q188: The opportunity cost of spending four hours
Q189: If we are operating inside our production
Q190: The closer we are to the production
Q191: An increase in the unemployment rate would
Q192: If the production possibilities frontier were a
Q194: An economy operating its plant and equipment
Q195: The United States was able to produce
Q196: According to the law of increasing costs,as
Q197: Which of the following is the most
Q198: A small Caribbean island-country produces only pineapples
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents