If the supply of a good is perfectly inelastic, the price elasticity of supply will equal

Producers typically face increasing marginal costs of production. Thus, their production possibilities frontier would

A) slope upward. B) bend inward. C) bend outward. D) appear as a straight line.

Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from

A. B to A. B. C to D. C. B to D. D. A to C.