When the Opportunity Cost of Producing a Good Rises as Someone

question 2

Multiple Choice

When the opportunity cost of producing a good rises as someone produces more of it,one experiences

• A) normative economics.
• B) increasing relative costs.
• C) downward-sloping demand.
• D) inferior goods.
• E) increasing marginal utility.

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Definitions:

Silicon Valley

A region in Northern California known for its significant number of innovative tech companies and startups.

Software Makers

Individuals or companies that develop, create, and sometimes distribute software applications or systems, contributing to the technology and information sectors.

Industrial Policy

Industrial policy encompasses strategies and policies employed by a government to stimulate or regulate different sectors of its economy, aiming at enhancing competitiveness and economic growth.

Prime Objective

The main goal or target an individual, group, or organization aims to achieve.