The magnitude of the slope of the budget line is equal to the ________ or ________ of the good plotted on the ________ in terms of the other good

While studying with your friend, your friend states, "Our leisure time increases GDP but lowers our economic welfare because it reduces the amount of goods and services we can consume." Is your friend's statement CORRECT?

What will be an ideal response?

Economies of scale may be a barrier to entry in a situation in which

A) only small-scale production can lower the per-unit cost of production. B) only small-scale production can meet the constantly changing market demand. C) only large-scale production can lower the per-unit cost of production. D) large-scale production is inefficient.