A production possibilities curve shows the combinations of products which can be produced in an economy which is fully employing and efficiently using its productive resources

Which of the following shifts the supply curve rightward?

A) an increase in the population B) a positive change in preferences for the good C) a decrease in the price of the good D) a decrease in the price of a factor of production used to produce the good

A consumer is willing to purchase a product up to the point where

A) he spends all of his income. B) the marginal benefit is equal to the price of the product. C) the quantity demanded is equal to the quantity supplied. D) he is indifferent between consuming and saving.