The Law of Increasing Opportunity Costs States That

Multiple Choice

The law of increasing opportunity costs states that

A) costs of production increase for one good, but costs decrease for the other good.
B) increases in wages and other resource costs is what the increasing opportunity costs refer to.
C) increases in the production of one good require larger and larger sacrifices of the other good.
D) increases in the production of one good make the production of that good easier.