If the law of increasing opportunity costs is operable, and currently the opportunity cost of producing the 101st unit of good X is 5Y, then the opportunity cost of producing the 201st unit of good is X is most likely to be

In the 1770s the per capita income in the colonies:

a. was higher than the per capita income in developing countries today. b. was significantly lower than the per capita income in England during the same period. c. was impossible to determine due to inaccurate and incomplete data. d. was lower than the current per capita income in developing countries..

Which of the following is TRUE about firms organized along functional lines?

a. Workers develop functional expertise b. Workers can easily share information within their division c. They foster the exploitation of economies of scale d. All of the above