Refer to the information provided in Figure 2.3 below to answer the questions that follow. Figure 2.3
-Refer to Figure 2.3. The law of ________ opportunity costs is best depicted by the production possibilities frontier in panel A.
A) increasing
B) constant
C) decreasing
D) zero

Question

Refer to the information provided in Figure 2.3 below to answer the questions that follow.  Figure 2.3
-Refer to Figure 2.3. The law of ________ opportunity costs is best depicted by the production possibilities frontier in panel A.
A) increasing 
B) constant 
C) decreasing 
D) zero

Quizplus · Accepted Answer

The law of increasing opportunity costs is best depicted by the production possibilities frontier in panel A. This is because the opportunity cost of producing one more unit of a good increases as more of that good is produced.

Refer to the Information Provided in Figure 2