According to the law of increasing costs,as a textile company spends more money to eliminate dust particles from the workplace to increase worker safety
A)the cost of reducing 70 percent of the dust in the factory will be the same as the cost of reducing the first 50 percent of the dust in the factory.
B)the cost of reducing 70 percent of the dust in the factory will be less than the cost of reducing the first 50 percent of the dust in the factory.
C)the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.

Question

Quizplus · Accepted Answer

The law of increasing costs states that as more resources are used to produce a good or service, the cost of producing each additional unit goes up. In the case of the textile company, as they spend more money to reduce dust particles in the workplace, the cost of reducing each additional percentage of dust will increase. Therefore, the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.

According to the Law of Increasing Costs,as a Textile Company