The slope of a production possibilities frontier that displays increasing opportunity cost is
A) positive and constant.
B) negative and constant.
C) steeper near the horizontal intercept than near the vertical intercept.
D) steeper near the vertical intercept than near the horizontal intercept.
C
Economics
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If the market price is at equilibrium, the producer surplus is minimized
Indicate whether the statement is true or false
Economics
If a firm's marginal revenue is greater than its marginal cost, then:
a. each added unit of output will reduce profits. b. the firm is maximizing profit. c. an increase in output will add more to revenue than to cost. d. an increase in output will add more to cost than to revenue. e. a fall in output will add more to revenue than to cost.
Economics