A monopoly firm never incurs a loss as it is the sole supplier of the good in the market

Assume that society is operating on its concave production possibilities frontier. As more and more units of the good on the horizontal axis are produced,

a. more and more total resources are employed in the two industries combined b. larger and larger amounts of the good on the vertical axis must be sacrificed c. fewer and fewer total resources are employed in the two industries combined d. more and more units of the good on the vertical axis will be produced e. smaller and smaller amounts of the good on the vertical axis must be sacrificed

Because of the free-rider problem,

a. private markets tend to undersupply public goods. b. the federal government spends too many resources on national defense and not enough resources on medical research. c. fireworks displays have become increasingly dangerous. d. poverty has increased.