In a competitive industry where different firms have different cost structures, the industry supply curve is:

The manager of the sales department (a profit center) at Harvey's HVAC, decides to outsource any sales training that the division needs since in house training is expensive, even though the outsourced training does not cover the company's repair and warranty information from the service department. Does the Sales department have enough information to make the right decision?

a. No b. Yes c. Uncertain d. None of the above

If, in a given economy, production is taking place at a point inside the production possibility frontier:

a. resource allocation is technically and allocatively efficient. b. resource allocation is technically efficient but allocatively inefficient. c. resource allocation is technically inefficient and allocatively efficient. d. resource allocation is technically and allocatively inefficient.