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7 April, 10:48

According to the law of increasing opportunity cost, as a society produces more and moreof a certain good, further production increases involve ever-greater opportunity costs, so that producing the good is associated with greater and greater trade-offs.

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  1. 7 April, 14:05
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    The statement is: True.

    Explanation:

    The increasing opportunity cost law states that as long as the production of a good or service increases, the opportunity cost of producing that next good or service will increase as well. For this scenario to take the factors of production - land, labor, and capital - must be at their maximum efficiency.
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