All of the points inside a production possibilities frontier are ____; all of the points on the production possibilities frontier are ____.

For a consumer not bound by the collateral constraint, a reduction in the price of the collateral leads to

A) nothing. B) an increase in current consumption and a decrease in future consumption. C) a decrease in current consumption and no change in future consumption. D) a decrease in current and future consumption.

Monopolies and oligopolies both erect barriers to entry through the use of

A) price cutting. B) patents. C) franchising. D) advertising.