Which of the following changes would not lead to a shift in Canada's production possibilities curve?
a. the introduction and use in Canada of more advanced technology
b. a substantial emigration of Canadian workers to the U.S.
c. a prolonged summer drought in Canada's Prairie Provinces that destroys 18% of Canada's wheat harvest
d. a sharp increase in the number of Canadians earning advanced degrees in education, e.g., BA's, BS's, MD's and PhD's
e. a change in the composition of Canada's output
E
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A monopolistically competitive firm is making a positive economic profit. In the long run, which of the following is most likely?
A) It will produce less output and it will charge a lower price. B) It will produce the same output and charge the same price. C) It will produce less output but keep price the same. D) It will keep output the same but will charge a higher price.
Refer to Figure 4-3. What area represents producer surplus at P2?
A) A + B + D B) B + D + G C) B + C + D + E D) B + D