Question

The law of increasing opportunity costs states that:

a. The opportunity cost of each additional unit of output of a good over a period of time decreases as more of that good is produced.
b. Increasing resource prices are inevitable because of scarcity.
c. The opportunity cost of each additional unit of output of a good over a period of time increases as more of that good is produced.
d. Resources are easily adaptable to the production of any good. Economic growth is always associated with inflation.

c. The opportunity cost of each additional unit of output of a good over a period of time increases as more of that good is produced.