Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 1 - Limits, Alternatives, and Choices - Quick Quiz for Figure 1.2 - Page 12: 1


1) C. It reflects the law of increasing opportunity costs.

Work Step by Step

As more pizzas are consumed, the amount of resources allocated to the production must also increase to maintain optimal efficiency. When there are no more available resources, that is, when all available resources are being used at maximum capacity, the margin of consumption is, on average, more costly. This is the law of increasing opportunity costs.
This answer is currently locked

Someone from the community is currently working feverishly to complete this textbook answer. Don’t worry, it shouldn’t be long.