Author Question: The principle that the opportunity cost increases as the production of one output expands along the ... (Read 45 times)

future617RT · **on:** Jun 30, 2018

The principle that the opportunity cost increases as the production of one output expands along the production possibilities curve is the:
a. law of increasing opportunity costs.
b. law of supply.
c. law of demand.
d. law of diminishing returns.

Question 2

According to marginal analysis, you should spend more time studying economics if the extra benefit from an additional hour of study:
a. is positive.
b. outweighs the extra cost.
c. exceeds the benefits of the previous hour of study.
d. will raise your exam score.