________: marginal utility declines as more of a good or service is consumed during a specified period of time

If consumption is $750 when real disposable income is $1,000, the average propensity to consume is

A) 0.50. B) 0.25. C) 0.80. D) 0.75.

When the production possibilities curve is bowed out, resources are

a. equally well-suited to production of both goods. b. not being used efficiently. c. not equally suited to the production of both goods. d. available in larger and larger quantities as more of one good is produced.