As a country that has a bowed-out production possibilities frontier produces more of one good, the opportunity cost of a unit of that good ________

If a perfectly competitive firm's marginal revenue is greater than its marginal cost, as it increases its output, its profit ________ and the price it can charge for its product ________

A) increases; does not change B) decreases; falls C) increases; falls D) decreases; rises E) decreases; does not change

Before digital photography, most film processing companies had a policy of printing every picture on a roll of film and allowing customers to request a refund for pictures that were not clearly developed

The companies did this knowing that most customers did not ask for refunds. This was an example of consumers A) being overly optimistic about their future behavior. B) not making themselves aware of the policy regarding refunds. C) failing to ignore sunk costs. D) not taking nonmonetary opportunity costs into account.