Suppliers will be willing to supply a product in all of the following situations except when
A) the price received is greater than the additional cost of producing the product.
B) the price received is at least equal to the additional cost of producing the product.
C) the price received is less than the additional cost of producing the product.
D) the price received is equal to the additional cost of producing the product.
Question 2
According to the production possibilities model, if more resources are allocated to the production of physical and human capital, then all of the following are likely to happen except
A) the country's total production will fall.
B) future economic growth is enhanced.
C) the production possibilities frontier will be shift outward in the future.
D) fewer goods will be produced for consumption today.
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