The ________ States That the Opportunity Cost of Producing a Good

question 116

Multiple Choice

The ________ states that the opportunity cost of producing a good always rises as one produces more of it.

• A) law of increasing relative cost
• B) law of positive economics
• C) law of demand
• D) production possibilities frontier (PPF)model
• E) zero-sum game

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Definitions:

Maturity Value

The total amount payable to an investor at the end of a fixed-term investment, including principal and interest.

360-Day Year

A conventional method in finance for simplifying interest calculations, assuming a year has 360 days.

Finance Company

A business that provides loans to individuals and companies, aside from traditional banking institutions, often specializing in certain types of loans.

Discounted

refers to a price that has been reduced from the original or list price, often to encourage sales or clear inventory.