The law of increasing opportunity costs is a result of the fact that:

a. A) the value of the dollar has declined over time.

b. B) wage rates rise as the economy reaches full employment.

c. C) consumers tend to value a good more when they don't have much of it.

d. D) resources are not equally productive in all output categories.

Question

Abel Mcgee

10 December, 03:33

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Answers (1)

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Darryl Ali · Answer 1

Consumers tend to value a good more when they don't have much of it.