The concavity (bowed-out shape) of the production possibilities curve is the result of:
a. the law of demand
b. the law of supply.
c. the law of increasing opportunity cost.
d. complementarily in consumption.
c
Economics
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Explain the three fundamental decisions that firms in perfectly competitive markets mustmake. Explain how these decisions are interrelated
What will be an ideal response?
Economics
An alternative to rent-control laws that would not reduce the quantity of housing supplied is
a. the payment by government of a fraction of a poor family's rent. b. higher taxes on rental income earned by landlords. c. a policy that prevents landlords from evicting tenants. d. a policy that allows government to confiscate residential property for the purpose of commercial development.
Economics