Opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services. When economists use the word “cost,” we usually mean opportunity cost.
When the light bulb industry becomes a competitive market, the price of the light bulb will decrease. This is due to the fact that the industry will no longer monopolize the production of light bulb, other competitors will bring their product to the market. Thus, this will result to competition which will bring the prices lower since consumers will opt to buy lower prices of the same product.
Punishing Germany
The second one. Punishing Germany
Answer:INDIA
Explanation: India, the largest producer of cotton in the world, produces about 6,188,000 tons per year. India's climate is very favorable for cotton production, specifically in the north part of the country.
