A technological advance that increases the productivity of all inputs is best illustrated as:
a. a movement along the production possibilities curve.
b. a flattening of the production possibilities curve

The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, at the equilibrium output, the

A) marginal private cost exceeds the marginal private benefit. B) marginal private cost is less than the marginal private benefit. C) marginal social cost equals the marginal private benefit. D) marginal social cost is greater than the marginal private benefit.

The difference between sensitivity analysis and scenario analysis is

A) sensitivity analysis is a method for evaluating risk while scenario analysis is not. B) sensitivity analysis is based on regression analysis while scenario analysis is not. C) sensitivity analysis examines the impact on the overall results of a change in one variable while scenario analysis examines the impacts on overall results of changes in several variables at the same time. D) None of the above