Refer to the production possibilities frontier figure above. Which of the following movements requires the largest opportunity cost, in terms of good X forgone, per extra unit of good Y?

Refer to Figure 3-6. The figure above represents the market for coffee grinders. Assume that the market price is $21. Which of the following statement is true?

A) There will be a shortage that will cause the price to increase; demand will then decrease and supply will increase until the price equals $25. B) There is a shortage that will cause the price to increase; quantity demanded will then decrease and quantity supplied will increase until the price equals $25. C) There is a shortage that will cause the price to increase; quantity supplied will then decrease and quantity demanded will increase until the price equals $25. D) There is a shortage that will cause the price to decrease; quantity demanded will then increase and quantity supplied will decrease until the price equals $25.

Vinny consumes tacos and chicken wings. To keep his utility constant, he must consume more tacos if he consumes fewer chicken wings. This means that

A) Vinny's indifference curve for tacos and chicken wings must have a negative slope. B) Vinny's marginal rate of substitution must be constant along his indifference curves for tacos and chicken wings. C) Vinny's marginal utility from each good must be constant along his convex indifference curves for tacos and chicken wings. D) the prices Vinny pays for tacos and chicken wings are always the same.