What can cause a production possibilities curve to move to the right? a. thousands of people move out of the country b. an epidemic kills thousands of young men and women c. the population is growing increasingly old d. a new invention lowers the cost of production

Which of the following accurately describes a situation in which consumers have elastic demand? a. a restaurant starts using margarine instead of butter because butter becomes more expensive. b. consumers boycott a restaurant because the waiters aren't paid minimum wage. c. a company starts using sugar instead of corn syrup because its revenues are up. d. people give up eating pasta and bread because they want to lose weight. 2b2t

Consumer surplus is: the difference between the price of a product and what consumers were willing to pay for the product. the difference between the discounted price of a product and its retail price. the difference between the price paid by consumers and the price required of producers. the difference between the price of a product and consumers' valuation of the last unit of the product purchased.

Under t, the point (0,2) gets mapped to (3,0). t-1 (x, y) →