Refer to Figure 3-1. A decrease in the price of a substitute good would be represented by a movement from

Refer to Table 2-5. What is Finland's opportunity cost of producing one cell phone?

A) 0.25 board feet of lumber B) 4 board feet of lumber C) 12 board feet of lumber D) 16 board feet of lumber

The marginal product of any input into the production process:

A. is the increase in output that is generated by an additional unit of input. B. is the decrease in input that is generated by an additional unit of output. C. is the constant ratio of inputs to outputs. D. None of these is true.