Points inside a production possibilities curve are ________ and ________

Provide examples of goods or services whose elasticities of supply are (a) zero, (b) greater than zero but less than infinity, and (c) infinity

What will be an ideal response?

Assume that aggregate supply meets aggregate demand in the upward sloping portion of the AS curve. For each of the following, graph the change in aggregate supply and/or aggregate demand, and state the effect on prices and output. 1. The demand for U.S. exports increases. 2. Taxes increase. 3. Businesses become less optimistic about the future. 4. The labor force increases. 5. Costs of production

increase. What will be an ideal response?