The law of increasing opportunity costs states that5
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Q: The law of increasing opportunity costs states that
- 1along a production possibilites curve, increases in the production of one good make the production of that good easier and easierfalse
- 2increases in wages cause increases in the costs of productionfalse
- 3costs of production increases and then decreasesfalse
- 4along a production possibilities curve, increases in the production of one good require larger and larger sacrifices of the other goodtrue
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