When an economy is not producing at its potential output, which of the following is likely?

Refer to Figure 2-14. What is the opportunity cost of producing 1 popsicle in Greenland?

A) 2/3 of a snow cone B) 5/6 of a snow cone C) 1 1/5 snow cones D) 240 snow cones

There is an inverse relationship between the price-cost margin and the level of competition in a particular industry

Indicate whether the statement is true or false