Assume it is announced that a large number of new competitors have entered the market for mountain bikes, each offering a different model. Based on this information, this industry is best characterized as:

A sharp reduction in the U.S. debt-GDP ratio occurred

A) between 1998 and 2001 . B) between 1996 and 1997. C) between 1994 and 1995. D) between 1993 and 1995.

From the data given in Table 3-2, the opportunity cost of increased cotton in moving from A to B is

A. 16 units of corn. B. 31 units of corn. C. 15 units of corn. D. 4 units of corn. E. 1 unit of corn.