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26 December, 16:43

The law of increasing costs means that when an economy increases the production of one item

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  1. 26 December, 18:38
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    The law of increasing costs means that when an economy increases the production of one item the opportunity cost goes up. It is a principle that states that once all factors of production (land, labor, capital) are at maximum output and efficiency, producing more will cost more than average.
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