As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases.
B. initially decreases, then increases.
C. decreases.
D. initially increases, then decreases.
Answer: A
You might also like to view...
With a natural monopoly, the normal profit price is ________ and the competitive price is ________.
A. not allocatively efficient; allocatively efficient B. allocatively efficient; allocatively efficient C. not allocatively efficient; not allocatively efficient D. allocatively efficient; not allocatively efficient
Which statement is correct regarding allocative efficiency in monopolistic competition?
a. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the left. b. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the right. c. When new competitors exit a monopolistically competitive industry, the demand curve for each firm will shift to the left. d. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will not be affected.
The Fed and the government are working against each other if, as the government cuts taxes to promote economic growth, the Fed
a. sells government securities. b. buys government securities. c. lowers the discount rate. d. lowers the prime rate.
How would you apply the scientific process to the question of why men typically earn more than women?
What will be an ideal response?