Technological progress makes the production possibilities frontier
A) shift inward toward the origin.
B) become more linear and less bowed.
C) shift outward from the origin.
D) become less linear and more bowed.
C
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If a game is a prisoners’ dilemma, neither player has dominant strategy.
Answer the following statement true (T) or false (F)
Which of the following helps a monopoly perfectly price discriminate?
A) unit demand by each consumer B) the product is perishable C) the product is personalizable D) All of the above.
An oligopoly will maximize profits where price equals marginal cost, just like a perfectly competitive firm.
Answer the following statement true (T) or false (F)
In a market economy, what provides potential investors with reliable information about the financial performance of a firm?
A. contracts B. insurance C. patents D. accounting rules