When a monopolist is able to price-discriminate:
a. its profits tend to increase and its output tends to fall.
b. both its profits and output tend to increase

If the government assigns private property rights to a common resource, then the

A) resource is under-utilized. B) marginal private cost becomes equal to the marginal social cost. C) government needs to set a quota to achieve efficiency. D) None of the above answers is correct.

The process through which an economy's production possibilities curve shifts outward is:

a. full-employment management. b. investment. c. resource renewal. d. out-resourcing.