What is the reason for the law of increasing opportunity costs?
a. There is no reason: it just is.
b. People have varying abilities and those with lower opportunity costs of producing a good produce it before people with higher opportunity costs produce it.
c. The price of a good rises as more of it is demanded.
d. As more of a good is produced, the taxes applied to the production of the good rise.
e. c and d
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is the reason for the law of increasing opportunity costs? a. There is no reason: it just is. b. People have varying abilities and ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Cane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively. Each product uses only one type of raw material that costs $6 per pound.
Answers (1)
Are apartments on central park expensive?
Answers (2)
Use the information below to answer the following question. Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.
Answers (1)
Brad buys a tablecloth from a department store. When he gets it home, he finds that the color does not go well in his dining room. Brad tries to return the tablecloth, but the store does not accept the return because Brad does not have his receipt.
Answers (1)
Bill and Ted recently opened a plumbing business. The business currently has $500 monthly depreciation for its two trucks as its only fixed costs.
Answers (1)
New Questions in Business
The 3M Post-it® Flag Highlighter and Pen marketing programs were designed for what primary objective? (A) The initial introduction of two new 3M products. (B) specific promotion to be used for long-range strategies.
Answers (1)
A. What are the basic economic decisions that every economic system must make?
Answers (1)
Similarities between dance drama and other forms of drama
Answers (1)
Muzafer sherif's work with 11-year-old boys at a summer camp demonstrated that:
Answers (1)
Which of the following is covered under Section II of the Businessowners Coverage Form? A Watercraft Liability B Medical payments to volunteer workers C Employers Liability D Professional Liability
Answers (1)