In an Israeli factory, each worker can produce 2/5 of a shirt in an hour or 1/10 of a pair of pants in an hour. If there are 500 workers in the factory, what is opportunity cost of producing one shirt?

Whenever any firms in a concentrated industry merge, the Herfindahl-Hirschman Index: a. will rise

b. may rise or stay the same. c. may rise or fall. d. will fall.

Since it spent over $3.6 trillion in 2010, opportunity cost was not an issue for the U.S. government

a. True b. False Indicate whether the statement is true or false