Which of the following would most likely cause the production possibilities curve for DVDs and food to shift outward?
a. A choice of more food and more DVDs.
b. A choice of more food and less DVDs.
c. A choice of more DVDs and less food.
d. An increase in the quantity of natural resources.
d
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If the risk associated with a particular outcome is ________, or the value of a particular outcome is ________, then cost-benefit analysis might lead people to accept too little risk
A) overestimated, overestimated B) overestimated; underestimated C) underestimated; overestimated D) underestimated; underestimated
A price-discriminating monopoly is a monopoly that
A) sells its output at a single price to all of its customers. B) sells different units of a good or service at different prices. C) has control over the resources used to produce the product. D) has a license to sell the product. E) illegally charges different customers different prices for the good it produces.