If the law of increasing opportunity costs is operable, and currently the opportunity cost of producing the 1,000th unit of good X is 0.5Y, then the opportunity cost of producing the 2,001st unit of good is X is most likely to be
What will be an ideal response?
more than 0.5Y.
You might also like to view...
A bilateral monopoly exists when there is a
A) single buyer and many sellers in the market. B) single seller and many buyers in the market. C) large number of buyers and sellers in the market. D) single buyer and a single seller in the market.
The market demand curve for any good is
a. independent of individuals' demand curves for the good. b. the vertical summation of individuals' demand curves. c. the horizontal summation of individuals' demand curves. d. derived from the firm's marginal cost of production.
When an unemployed person drops out of the labor? force, the unemployment rate
What will be an ideal response?
The initial proposed remedy for Microsoft violations of antitrust laws in the 2000 ruling from a Federal District Court was to:
A. Fine the company $100 million B. Give software codes to Microsoft competitors C. Split Microsoft into two companies D. Apply the legal cartel theory of regulation to Microsoft