Which of the following statements best describe what the law of increasing opportunity costs means?
A) The marginal cost of producing additional units of the same product eventually decreases as the resources needed to create the final output become less and less scarce.
B) The marginal cost of producing additional units of the same product remains constant as the resources needed to create the final output achieve a balanced level of scarcity.
C) The marginal cost of producing additional units of the same product eventually decreases at a decreasing rate as the resources needed to create the final output become decreasingly less scarce.
D) Because not all resources are equally adapted to alternative uses, the marginal cost of producing additional units of the same product increases; so, as consecutive units of the same item are produced, the extra cost of each additional unit increases.
E) Either answer "a" or "c" is correct.

Question

Quizplus · Accepted Answer

When not all resources are equally well adapted to the production of all uses, then there will eventually be a rising marginal cost of producing more units of the same product, as the economy initially transitions from the hiring of the most-well-adapted resources to the least-well-adapted resources.

Which of the Following Statements Best Describe What the Law