The rapid adoption of Basic Oxygen Furnaces by "Big Steel" (the top six firms) kept the American basic steel industry from falling behind changes in world technology during the 1960s

The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. The efficient level of output is

A) 2,000 tons. B) 3,000 tons. C) 4,000 tons. D) 5,000 tons.

If both prices decreases by 50%,

A) budget constraint will be unchanged. B) slope of the budget constraint will increase. C) slope of the budget constraint will decrease. D) budget constraint will shift outward in a parallel fashion.