Author Question: Which of the following will possibly cause a leftward shift in the production possibility curve, ... (Read 52 times)

CBme · **on:** Jun 30, 2018

Which of the following will possibly cause a leftward shift in the production possibility curve, representing good X and good Y?
a. A decrease in a country's GDP
b. An increase in the price of good X
c. An increase in the price of good Y
d. A decrease in the price of good Y
e. A decrease in the price of good X

Question 2

For Brent, if the marginal utility of sleeping an extra hour, from 8 a.m. to 9 a.m., is negative:
a. Brent is better off getting up at 8 a.m. or earlier.
b. Brent is better off getting up at 9 a.m.
c. Brent's total utility from sleeping must be negative.
d. Brent's average utility from every hour he sleeps must be negative.