Economic growth is represented on a production possibilities frontier model by the production possibilities frontier
A) becoming flatter. B) shifting inward. C) becoming steeper. D) shifting outward.
D
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While waiting in line to buy a cheeseburger for $2 and a drink for 75 cents, Aaron notices that the restaurant has a value meal containing a cheeseburger, drink, and French fries for $3 . For Aaron, the marginal cost of purchasing the French fries:
a. would be zero. b. would be 25 cents. c. would be 50 cents. d. cannot be determined because the information about the price of the French fries is not provided.
If government taxes a firm which pollutes this will
a. increase the demand for the good produced. b. decrease the supply of the good produced. c. increase the equilibrium quantity of the good produced in the market. d. decrease the equilibrium price of the good produced in the market. e. all of the above.