An increase in growth rates will cause the production possibilities curve to

The fast-food industry in the U.S. consists of many firms, but despite that it can still be viewed as an oligopoly because the top few firms control a significant share of the market

Indicate whether the statement is true or false

Assumptions are necessary to

A) make economics a social science. B) define a set of circumstances where a model is most likely to apply. C) define the relationship between wants and resources under all circumstances. D) define the specific cause and effect relationship that is being explained by social sciences.