Which of the following would shift an economy's production possibilities curve to the left? Select one: a. the country discovers a new energy source O b. the country experiences a major natural disaster affecting its capital goods O c. an increase in the retirement' age d. a major increase in the number of people in the labour force O e. dramatic increases in economic growth
Which of the following would shift an economy's production possibilities curve to the left? Select one: a. the country discovers a new energy source O b. the country experiences a major natural disaster affecting its capital goods O c. an increase in the retirement' age d. a major increase in the number of people in the labour force O e. dramatic increases in economic growth
Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 6SCQ: A firms marginal cost curve above the average variable cost curve is equal to the films individual...
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![Which of the following would shift an economy's production possibilities curve to the left?
Select one:
O a. the country discovers a new energy source
Ob the country experiences a major natural disaster affecting its capital goods
C.
an increase in the retirement' age
O d. a major increase in the number of people in the labour force
O e. dramatic increases in economic growth](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcf35951d-b484-46bb-ac46-25fb67c2f562%2F35e5574e-adae-4a59-8986-d8b1f8e80716%2Fvctbgnf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following would shift an economy's production possibilities curve to the left?
Select one:
O a. the country discovers a new energy source
Ob the country experiences a major natural disaster affecting its capital goods
C.
an increase in the retirement' age
O d. a major increase in the number of people in the labour force
O e. dramatic increases in economic growth
![Suppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight. If
the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the empty
rooms only if a customer is willing to pay
Oa.
more than $80, as the marginal benefit will exceed the marginal cost.
Ob more than $40, as the average benefit will exceed the marginal cost.
O c. more than $80, as the average benefit will exceed the marginal cost.
Od. more than $40, as-the marginal benefit will exceed the marginal cost.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcf35951d-b484-46bb-ac46-25fb67c2f562%2F35e5574e-adae-4a59-8986-d8b1f8e80716%2Ffny20g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight. If
the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the empty
rooms only if a customer is willing to pay
Oa.
more than $80, as the marginal benefit will exceed the marginal cost.
Ob more than $40, as the average benefit will exceed the marginal cost.
O c. more than $80, as the average benefit will exceed the marginal cost.
Od. more than $40, as-the marginal benefit will exceed the marginal cost.
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