According to the textbook, the most important and enduring source of market power is:

Which of the following could shift the Production Possibilities Frontier for the production of automobiles?

a. Newer technology allows the cars to be made more quickly. b. More laborers are trained in the computerized technology used by the automobile manufacturers. c. Laws are passed allowing automobile manufacturers to lower their tax rates by hiring more laborers. d. All of the above could shift the Production Possibilities Frontier of automobiles.

Refer to the graph above. If the price increases from P1 to P2, then the gain in total revenue is areas:

A. C + F + H and the loss in total revenue is area J. B. E + F + G and the loss in total revenue is area J. C. B + E and the loss in total revenue is areas H + I + J. D. A + B + C and the loss in total revenue is areas G + I + J.