Technological innovations will cause
a. production to increase but the production possibilities curve to remain unchanged
b. the production possibilities curve to shift to the left
c. the production possibilities curve to shift to the right
d. an economy to operate within its production possibilities curve
e. production at a point above or exterior to the production possibilities curve
C
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The actual income distribution might be more equal than current official figures suggest because current official figures ignore the return on human capital
Indicate whether the statement is true or false
Monopolistic competition and monopoly are examples of a market structure called imperfect competition
a. True b. False Indicate whether the statement is true or false
Answer the next question based on the following data.OutputTotal Cost0$24133241348454561669What is the average variable cost of the 5th unit of production?
A. $4.80 B. $7.00 C. $12.20 D. $7.40
How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the right. B) The quantity of prerecorded DVDs demanded decreases. C) The quantity of prerecorded DVDs demanded increases. D) The demand curve for prerecorded DVDs shifts to the left.