The law of increasing costs indicates that the opportunity cost of producing a good:
a. is proportional to the production of the good.
b. is constant to the production of the good.
c. increases as more of the good is produced.
d. decreases as more of the good is produced.
e. increases as less of the good is produced.
Question 2
The opportunity cost of your college education is:
a. c and d.
b. d and e.
c. the actual dollar cost of your college education.
d. your best alternative use of the money you spend for a college education.
e. money you could have earned working instead of going to college.
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