Which of the following would shift the production possibilities frontier outward?
a. a reduction in inefficiency
b. a reduction in the size of the labor force
c. an improvement in technology
d. a change in the combination of goods produced
e. increasing opportunity costs
C
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Interest rates in the United States rise relative to interest rates in other countries. As a result, in the foreign exchange market
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) the demand curve for dollars shifts leftward. D) there is an upward movement along the supply curve of dollars.
After an increase in demand in a constant-cost industry, firms will find themselves with higher average cost curves
Indicate whether the statement is true or false
Big Waves is a large water park. Suppose the individual demand for entrance into Big Waves is Qd = 50 - (2 × P) and each consumer has the same demand. Big Waves has a constant marginal cost of $5 per consumer. If Big Waves practices two-part pricing and requires a membership fee and then a separate entrance fee, what is the profit-maximizing membership fee?
A) $400 B) $200 C) $50 D) $125
Unlike an owner, a manager may be more concerned with _____ than with _____. Which pair of words best completes this sentence?
a. profits, personal benefits b. personal benefits, profits c. profits, working conditions d. cost, revenue