Answered

The principle of the low-hanging fruit helps explain:

A. Why production of one good entails an opportunity cost.
B. Why the opportunity cost of a good increases as more of that good is produced.
C. Why the production possibilities frontier shifts out as resource growth occurs.
D. Why an efficient economy produces on the production possibilities frontier.



Answer :

GinnyAnswer

Final answer:

The law of increasing opportunity cost explains why the opportunity cost of a good increases as production of that good expands.


Explanation:

The principle of the law of increasing opportunity cost, also known as the law of increasing opportunity cost, explains why the opportunity cost of a good increases as more of that good is produced.

This occurs because resources are better suited for producing certain goods, resulting in a higher opportunity cost as production of a specific good expands.

As a society moves along its production possibilities curve towards increased production of a specific good, the opportunity cost of producing that good rises due to the resources having a greater comparative advantage in producing other goods.


Learn more about production possibilities curve and opportunity cost here:

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