The law of increasing costs states that, as ______. a) output rises, cost per unit rises as

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The law of increasing costs states that, as ______.

a) output rises, cost per unit rises as well

b) the output of one good expands, the opportunity cost of producing additional units of this good increases

c) economies of scale set in, costs increase

d) output rises, diminishing returns set in

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 28, 2024 02:02 AM

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The law of increasing costs states that, as ______. a) output rises, cost per unit rises as

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The correct answer is b the output of one good expands the opportunity cost of producing addit...View the full answer

Microeconomics

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