Which of the following will cause the? Long-Run Aggregate Supply Curve to? shift? I. Changes in the amount of capital II. Changes in the price level III. Changes in the money supply

Assuming economic efficiency is maximized, when will more of a resource tend to be used in the first time period (as compared to future time periods)?

a. Whenever the discount rate is positive b. Whenever the marginal net benefits in the present are positive c. Whenever the discount rate is zero d. Whenever the user costs are positive in the present e. Whenever the marginal net benefits in the future are negative

Consider a competitive market in which people consume at the point where their marginal rates of substitution between products X and Y are 3/5

In this same market, producers produce where their marginal rates of transformation between X and Y are also 3/5. However, producers are producing 7 of Y and 3 of X, and consumers wish to consume 5 of Y and 5 of X per unit of time. Explain how this situation can exist. Also determine if it represents an equilibrium or not. If not an equilibrium, what will tend to happen in the market?