For an increasing cost industry, the long-run supply curve has a(n) elasticity of supply

As consumption increases, total utility increases

A) at an increasing rate. B) at a decreasing rate. C) at a constant rate. D) and marginal utility increases.

The money supply curve is vertical if

A) the Fed is able to completely determine the money supply. B) banks and households determine the money supply. C) banks and the Fed jointly determine the money supply. D) households and the Fed jointly determine the money supply.