An increase in income results in an outward shift of an indifference curve

If 100% of individuals in a group are required to agree before an action can take place then _____

a. external costs will be high b. we cannot determine the level of external costs without additional information c. external costs will be zero d. external costs will be low

Everything else equal, the AC curve will shift downward if

A. input prices rise. B. input MPPs rise. C. output rises. D. output falls.