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Basic Question 5 of 29
When you produce wheat, it is relatively inexpensive to produce it initially, but per unit costs tend to increase as more is produced. This is an example of ______.
B. decreasing marginal opportunity costs
C. constant marginal opportunity costs
A. increasing marginal opportunity costs
B. decreasing marginal opportunity costs
C. constant marginal opportunity costs
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Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.