Which of the following would result in a movement along the production possibilities curve?
A) a fall in the unemployment rate
B) growth in the capital stock
C) population growth
D) a change in the outputs of two goods that a society chooses to produce
Answer: D
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What is the conclusion in the prisoners' dilemma?
A) Firms should not enter a legal duopoly. B) Two prisoners acting in their own best interest harm their joint interest. C) There is no Nash equilibrium available to the prisoners. D) Prisoners do not act interdependently. E) Duopolies almost always reach their best outcome.
When a transfer price decreases
a. the costs of the division using the intermediate product will fall b. the profits of the division using the intermediate product will be unaffected c. the profits of the division using the intermediate product will fall d. the profits of the division using the intermediate product will rise
Risk:
A. is inherent in every action or decision. B. exists whenever the consequences of a decision are uncertain. C. exists when outcomes are certain. D. is a good that can be purchased.
A firm in a perfectly competitive industry is maximizing its economic profit by producing 500 units of output. At 500 units of output, which one of the following must be false?
a. MC < ATC b. MC < AVC c. MC > ATC d. MR < ATC e. MR > AVC