Ask Question
16 May, 05:34

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.

true/false

0
Answers (1)
  1. 16 May, 05:56
    0
    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.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “According to the law of increasing opportunity cost, as a society produces more and moreof a certain good, further production increases ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers