Perfectly competitive industries tend to produce low-priced, low-technology products

Refer to the production possibilities frontier figure above. Which of the following movements requires the largest opportunity cost, in terms of good X forgone, per extra unit of good Y?

A) from point e to point d B) from point d to point c C) from point c to point b D) from point b to point a

Which set best describes the basic features of monopolistic competition?

A. Easy entry, few firms, and standardized products. B. Easy entry, many firms, and differentiated products. C. Barriers to entry, few firms, and differentiated products. D. Barriers to entry, many firms, and standardized products.