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The law of increasing costs states that: a ) as output rises, costs of production rise as well. b ) as the output of one
The "law of increasing costs" states that:
a as output rises, costs of production rise as well.
b as the output of one good expands, the opporifunity cost of producing additional units of that good increases.
c as economies of scale set in costs increase.
d as output rises, diminishing returns set in
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