The product-variety externality states the benefits to consumers from the introduction of a new product

Refer to the scenario above. Jack will derive ________ units of utility if both of them try to move the tree

A) 5 B) -5 C) -2 D) 10

The figure above shows the U.S. production function. From 1986 to 2008 the United States experienced major advances in technology as well as an increase in the working-age population. The combined effect can best be shown by a

A) movement from point W to point X. B) movement from point Y to point Z. C) movement from point Y to point X. D) movement from point W to point Z.