What Is the Reason for the Law of Increasing Opportunity

question 79

Multiple Choice

What is the reason for the law of increasing opportunity costs?

• A) There is no reason: it is just one of the laws of economics.
• B) Resources have varying abilities and those with lower opportunity costs of producing a good will be used to produce it before resources with higher opportunity costs produce it.
• C) The price of a good rises as more of it is demanded.
• D) As more of a good is produced,the taxes applied to the production of the good rise.
• E) c and d

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Definitions:

Problem-solution

A method of organizing information or arguments that first identifies a problem and then proposes one or more solutions for it.

Specific-to-general

A method of organization where details start with specific instances and lead to a general conclusion or understanding.

Cause-and-effect

A relationship in which one event (the cause) makes another event happen (the effect), indicating a linkage between actions and outcomes.

Problem-solution

A method or format used to describe an issue and propose remedies or strategies for addressing it, common in writing, presentations, and analytical discussions.