The above table gives techniques that Fatz Confectionery can use to produce 2,000 pounds of candy. Which technique is technology inefficient?

Suppose we observe a substantial increase in the price of a good, and, at the same time, an increase in the quantity of the good demanded. What can we conclude?

A) The law of supply is untrue. B) Consumers haven't followed the law of demand. C) The demand curve has shifted to the right. D) The good is a luxury good.

Firms are more likely to devote resources to research and development when

A) the country is in recession. B) they expect to earn rewards from successful research and development. C) it is easy to copy new techniques of other firms. D) the country has been experiencing slow economic growth in order to spur economic growth.