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The law of increasing costs means that when an economy increases the production of one item

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Its A edge 2021

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User Animesh Manglik
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The law of increasing costs means that when an economy increases the production of one item the opportunity cost goes up. It is a principle that states that once all factors of production (land, labor, capital) are at maximum output and efficiency, producing more will cost more than average.
User Ganapathy
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