Refer to the accompanying figure. As the production of pizza increases, the opportunity cost of producing pizza:
A. decreases.
B. increases.
C. becomes negative.
D. doesn't change.
Answer: B
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a. True b. False Indicate whether the statement is true or false
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A. the rate of price inflation; the price of the output produced B. the supply of labor; the price of output produced C. the supply of labor; the marginal product of labor D. the marginal product of labor; the price of output produced
Which of the following is NOT a type of market structure?
A. Monopolistic oligopoly B. Perfect competition C. Monopoly D. Monopolistic competition