Author Question: The law of increasing additional cost is due to A) scarcity. B) inefficient use of technology. ... (Read 98 times)

hbsimmons88 · **on:** Jun 29, 2018

The law of increasing additional cost is due to

A) scarcity.
B) inefficient use of technology.
C) the fact that resources are not perfectly adaptable for alternative uses.
D) the fact that there are always alternatives and it is costly to figure out which alternative is best.

Question 2

A maximum legal price that may be charged for a particular good or service is known as a

A) price floor.
B) price ceiling.
C) black market.
D) price support.