Capital accumulation definitely
A) has no impact on the production possibilities frontier.
B) shifts the production possibilities frontier inward.
C) makes the production possibilities frontier steeper.
D) shifts the production possibilities frontier outward.
D
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If the supply curve for housing has the usual positive slope, rent controls are likely to
A. increase the quantity of housing. B. improve the quality of housing. C. aggravate the housing shortage. D. help low-income families find suitable housing. E. increase the demand for housing.
When production of a good results in an external cost, the unregulated competitive market equilibrium is inefficient because ________
A) MSC = MC B) MSC = MB C) MSC > MB D) MSC < MB E) MSC is undefined
Refer to Table 1-2. Using marginal analysis, by how many hours should Thuy Anh extend her flower shop's hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
In a market with imperfect product competition, the MRP declines because
a. the MP declines with each worker hired. b. the price of output falls as output increases. c. both output price and the MP decline as output increases. d. MC declines as output increases.