The Law of increasing relative cost is an economic concept, which explains that a firm will face distinctly more steeply-priced than the preceding degree of output.
<h3>What is law of increasing opportunity cost?</h3>
The regulation of growing possibility cost: As you amplify the production of one good, the opportunity cost to produce the additional precise will increase. First, take note that opportunity price is the value of the next-best alternative when a choice is made; it's what is given up.
<h3 /><h3>Why is the regulation of growing chance cost true?</h3>
The law of growing opportunity charges is based totally on the thinking that sources are now not absolutely adaptable to new applications. To make higher use of one product, sources with excessive productivity in another product will be required.
Learn more about law of increasing opportunity cost here:
<h3>
brainly.com/question/14611962</h3><h3 /><h3>#SPJ4</h3>
