A situation in which each firm selects its best action, given what its rivals are doing, is called a

Refer to Table 2-18. What is Minnie's opportunity cost of making an umbrella?

A) 1/10 of a hat B) 1/4 of a hat C) 4 hats D) 40 hats

Does history suggest that most technological progress is labor-saving or labor-augmenting?