In accordance with the law of supply, both individual and market supply curves are drawn:

The production possibilities curve is bowed outward from the origin because of

a. the law of increasing costs b. the finite nature of the resource base c. inefficiency d. improper output mix e. unemployment

Utility analysis deals with

A) the formation of tastes and preferences. B) the differences of tastes and preferences across individuals. C) the consumption decisions of people based on utility maximization. D) how consumers determine the utility they receive from consumption.