In international trade jargon, constant-cost production-possibility curves are associated with ________ specialization, while increasing-cost production-possibility curves are associated with ________ specialization.

Over a five-year span, the ABC Co reduced the amount of labor it hired. At the same time, the marginal productivity of labor increased. Which of the following COULD explain this observation?

A) the law of diminishing marginal returns B) labor saving technical change C) organizational innovation D) All of the above.

An increase in the price of a complement shifts the demand curve to the

a. right b. left c. it does not change the demand curve d. none of the above