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Jimmyhighroller Jimmyhighroller
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2 months ago

What is the reason for the law of increasing opportunity costs?



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There is no reason: it is just one of the laws of economics.



▸

Resources have varying abilities and those with lower opportunity costs of producing a good will be used to produce it before resources with higher opportunity costs produce it.



▸

The price of a good rises as more of it is demanded.



▸

As more of a good is produced, the taxes applied to the production of the good rise.



▸

c and d

Textbook 
Economics

Economics


Edition: 12th
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dm408dm408
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Resources have varying abilities and those with lower opportunity costs of producing a good will be used to produce it before resources with higher opportunity costs produce it.
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Jimmyhighroller Author
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2 months ago
Good timing, thanks!
GeorgeNeist
wrote...

Yesterday
Thank you, thank you, thank you!
lolaww
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2 hours ago
Brilliant ツ
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