According to the law of increasing opportunity costs,

A. Greater production means factor prices rise.
B. Higher opportunity costs induce higher output per unit of input.
C. Greater production leads to greater inefficiency.
D. Greater production of one good requires increasingly larger sacrifices of other goods.

Answer: D

Economics

You might also like to view...

The value of marginal product of labor is the ________ when one additional unit of a labor is employed, all other things remaining the same

A) change in marginal revenue B) change in marginal product C) change in total revenue D) total revenue

Economics

Average real wages have not risen significantly since approximately 1973

a. True b. False Indicate whether the statement is true or false

Economics