A production possibilities frontier with a ________ shape indicates increasing opportunity costs as more and more of one good is produced

If price is cut and demand is elastic, total revenue will rise because

A) the change in quantity demanded is greater than the percent change in price. B) the percent change in quantity demanded is greater than the change in price. C) the percent change in quantity demanded is greater than the percent change in price. D) customers can't find substitutes.

If disposable income increases by $400 billion and consumption increases by $300 billion, the MPC equals

a. 0.75 b. 0.60 c. 0.80 d. 0.68