The Law of Increasing Costs Indicates That the Opportunity Cost

question 11

Multiple Choice

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.

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Definitions:

Life Satisfaction

A measure of an individual's overall contentment with their life, often considered in psychological studies as a component of subjective well-being.

Endocrine System

A network of hormone-secreting glands associated with changes in the individual’s mood, metabolism, and growth. The glands associated specifically with puberty include the pituitary gland, the thyroid gland, the adrenal glands, and the sex glands (gonads).

Hormone-Secreting Glands

Organs or tissues in the body that release hormones directly into the blood or surrounding tissues, influencing various bodily functions.

Hypothalamatic System

A part of the brain responsible for the regulation of certain metabolic processes and other activities of the autonomic nervous system, including temperature regulation, hunger, and thirst.