According to the principle of increasing costs, as the production of one good expands, the opportunity cost of producing another unit of the good tends to increase
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
Use the table below to answer the next question.YearEmployedStructuralFrictionalCyclicalUnemployed20031,800501005020020042,400100100 30020052,000 15018050020062,66040 0140Determine the number of people cyclically unemployed for the year 2004.
A. 200 B. 100 C. -100 D. 0
Economics
Explain how we "read" the three graphs in Figs. A1.1 and A1.2
What will be an ideal response?
Economics
The marginal cost curve:
A. is U-shaped. B. rises when marginal product falls, and falls when marginal product rises. C. intersects ATC at the average total cost curve's minimum. D. All of these are true.
Economics
Adam Smith believed that if people were free to pursue their own interests,
What will be an ideal response?
Economics