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ryanolson41 ryanolson41
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2 months ago

Which of the following is an illustration of the law of increasing opportunity costs?



▸

As more cars are produced, the opportunity cost of each additional car is greater than for the preceding unit.



▸

As more cars are produced, the opportunity cost of each additional car is less than for the preceding unit.



▸

As more cars are produced, the opportunity cost of each additional car is the same as for the preceding unit.



▸

People pay lower prices for cars the higher the costs of producing cars.

Textbook 
Economics

Economics


Edition: 12th
Author:
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jd1044jd1044
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As more cars are produced, the opportunity cost of each additional car is greater than for the preceding unit.
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