The Law of Increasing Costs in Economics

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Tip 1 - Increasing opportunity cost

Published: 9 years, 6 month(s) ago | Submitted by Siv Christensen | permalink

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]

Tip 2 - The Law of Increasing Costs in Economics | eHow

Published: 9 years, 6 month(s) ago | Submitted by J Pow 3 | permalink

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]

Tip 3 - What Is the Law of Increasing Opportunity Cost in Economics?

Published: 9 years, 6 month(s) ago | Submitted by Rafael Diaz | permalink

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]