The concept of opportunity cost is more applicable to society as a whole than it is for an individual household.

To reduce labor costs, companies often invent machines and methods to produce products and reduce the amount of labor required. This is called

A) anti-union. B) downsizing. C) failed labor utilization. D) induced innovation.

If a developer plans to build a skyscraper in a major city overshadowing an historic church, could an efficient solution be reached if the church had the legal right to prevent the developer from building in that location? Why or why not?