A few days ago
the law of increasing costs means that when an economy increases the production of one item?
1)the opportunoty cost goes up
2)the actual cost of making the item goes down
3)the actual cost goes up but the opportunity cost goes down
4)the production costs will increase also
Top 3 Answers
A few days ago
Favorite Answer
3)the actual cost goes up but the opportunity cost goes down
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5 years ago
Increasing costs go par with Malthusian prophecy. Limited resources will have more and more demand and so cost of production will go on increasing, to an extent that demand for the end good falls.
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A few days ago
reread your economics chapter
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