According to the Principle of Increasing Opportunity Cost, in expanding the production of any good, we should start by utilizing the resources that:
A. have the highest opportunity cost.
B. have the lowest opportunity cost.
C. we have the most of.
D. we have the least of.
Answer: B
Economics
You might also like to view...
What is inflation and how is it measured using the Consumer Price Index?
What will be an ideal response?
Economics
During this year a country reports imports of $1,000 billion, exports of $1,100 billion, foreign investment in the country of $900 billion, investment abroad of $1,200 billion, net interest and net transfers of zero
What is the country's current account balance?
Economics