A nation's production possibilities curve might shift to the left (inward) as a result of:

A. technological advance.
B. increases in the size of the labor force.
C. the depletion of its soil fertility due to overplanting and overgrazing.
D. investing in more capital goods.


Answer: C

Economics

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If the stores could co-operate, what is the new Nash equilibrium?

a. Megastore $95 and Superstore $80 b. Megastore $305 and Superstore $55 c. Megastore $65 and Superstore $285 d. Megastore $165 and Superstore $115

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Figure 10-3


In Figure 10-3, the perfectly competitive firm is realizing a

a.
loss equal to ABCE.

b.
profit equal to ABCE.

c.
profit equal to ABDF.

d.
loss equal to ABDF.

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