In order for an economy to shift its production possibilities curve rightward, it must:
a. suffer resource unemployment.
b. experience an increase in its resources and/or an improvement in its technology.
c. use its resources more efficiently than at points along the curve.
d. all of these.
b
Economics
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If external benefits are taken into account in the market
A) the demand curve would shift to the left. B) the supply curve would shift to the left. C) the demand curve would shift to the right. D) the supply curve would become vertical.
Economics
If advertising decreases the elasticity of demand for specific brand names of hard liquor, we would expect firms to be able to charge a larger markup over marginal cost
a. True b. False Indicate whether the statement is true or false
Economics