Refer to the production possibilities frontier in the figure above. Production point ________ represents an ________ production point

What is the poverty threshold?

(A) The percentage of people who live in poverty. (B) The income needed to live in an inner city or rural area. (C) The income of the lowest 20 percent of families. (D) The income level below that which is needed to support a family.

The behavior of the monopolistic firm:

a. maximizes the benefits to consumers, given the resources available to the economy. b. reduces output in order to raise prices in the short-term c. results in excess capacity and inefficiency. d. both b and c