The law of increasing costs indicates that the opportunity cost of producing a good:
a. is proportional to the production of the good.
b. is constant to the production of the good.
c. increases as more of the good is produced.
d. decreases as more of the good is produced.
e. increases as less of the good is produced.
c
Economics
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Which of the following is NOT true for a perfectly competitive firm?
A) P = MR B) AR = MR C) MR = TR D) P = AR
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