Multiple Choice
The law of increasing additional cost exists because
A) resources are not perfectly adaptable to both production processes.
B) the demand for the product increases.
C) the cost of resources of the products increase.
D) the cost of resources of the products decrease.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: All points inside the production possibilities curve
Q2: Refer to the above figure. Production at
Q3: David has just ordered a smartphone only
Q5: Which type of resource will improve through
Q6: A production possibilities curve will shift outward
Q7: Technology<br>A) is constantly changing at every point
Q8: The production possibilities curve for two products
Q9: Refer to the above figure. A farmer
Q10: Opportunity cost exists because of<br>A) poverty.<br>B) scarcity.<br>C)
Q11: Opportunity cost is<br>A) the cost of producing