The Law of Increasing Costs in Economics

submit to reddit

Submit Your Tip

The Law of Increasing Costs in Economics – This is a place for the community to provide tips and advice on The Law of Increasing Costs in Economics. This topic was created by Britt Reeves and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Votes

Tips

1
- Vote
Tip 1
Increasing opportunity cost More
Published: 9 years, 5 month(s) ago by Siv Christensen | permalink
Vote
Why the opportunity cost may increase as you pursue more rabbits

For further reading: https://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/production-possibilities/v/increasing-opportunity-cost ^[1]

1
- Vote
Tip 2
The Law of Increasing Costs in Economics | eHow More
Published: 9 years, 5 month(s) ago by J Pow 3 | permalink
Vote
The law of increasing costs is an important consideration for business owners, who strive to keep their operations running at full capacity so as to achieve the highest level of profit possible. In this scenario, increasing output means higher production costs due to higher production. This illustrates the law of increasing costs.

For further reading: http://www.ehow.com/about_5367759_law-increasing-costs-economics.html ^[2]

1
- Vote
Tip 3
What Is the Law of Increasing Opportunity Cost in Economics? More
Published: 9 years, 5 month(s) ago by Rafael Diaz | permalink
Vote
Any business tries to use its resources efficiently. No one has unlimited resources, so it's critical that you make smart choices about using what you do have. Those decisions are influenced by what ...

For further reading: http://smallbusiness.chron.com/law-increasing-opportunity-cost-economics-74911.html ^[3]

About Author

More by Britt Reeves

No more topics...

About This Topic

Category: Fun | 9 years, 5 month(s) ago

19.2k+ Reads

3 Tips

3 Votes

0 Likes

0 Saved

Contributors

Rafael Diaz, Siv Christensen, J Pow 3

References & Citations

1. https://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/production-possibilities/v/increasing-opportunity-cost

2. http://www.ehow.com/about_5367759_law-increasing-costs-economics.html

3. http://smallbusiness.chron.com/law-increasing-opportunity-cost-economics-74911.html