Assume that the tuna fishing industry is perfectly competitive. ...

[gbarreiro]

Assume that the tuna fishing industry is perfectly competitive. Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna?
 
  A) a fixed-cost industry B) a decreasing-cost industry
  C) an increasing-cost industry D) a constant-cost industry

Question 2

Refer to Figure 22-1. Using the per-worker production function in the figure above, the largest changes in an economy's standard of living would be achieved by a movement from
 
  A) B to C to D. B) D to C to B. C) A to B to C. D) C to B to A.

[mfedorka]

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[gbarreiro]

Thank you

[mfedorka]

No problemo