according to the law of increasing opportunity costs,

Essentially, this law states that, as additional units of a good are manufactured, the opportunity cost associated with that production will also increase. Conversely, producing one more unit of output costs more and more in variable inputs. The law of diminishing returns only applies in cases where: A) there is increasing scarcity of factors of production. Why does the marginal opportunity cost... Why does increasing opportunity cost occur? consumers tend to value any good more highly when they have little of it. The law of increasing opportunity cost is a concept that is often employed in business and economic circles. The more one is willing to pay for resources, the smaller will be the possible level of production. PPCs for increasing, decreasing and constant opportunity cost. States that as more of a good is produced, its opportunity cost increases c. Implies that the more resources the economy uses, the greater their cost Implies that the more of good X that is produced, the more costly are the resources. Opportunity cost can be thought of in terms of how decisions to increase the production of an extra, marginal, unit of one good leads to a decrease in the production of another good. If a firm has a production function Q=F(K,L) (that is, the quantity of output (Q) is some function of capital (K) and labor (L)), then if 2Q
according to the law of increasing opportunity costs, 2021