The figure above illustrates Mary's production possibilities frontier. If Mary wants to move from point b to point c, she must
A) improve technology.
B) increase the accumulation of capital.
C) give up some of good Y in order to obtain more of good X.
D) give up some of good X in order to obtain more of good Y.
Question 2
Which of the following statements is TRUE?
A) As more of a good is consumed, its total utility increases, unless the good is subject to diminishing marginal utility.
B) As more of a good is consumed, its total utility increases, even if the good is subject to diminishing marginal utility.
C) No two people have identical utility functions, just as no two people have identical fingerprints.
D) Both A and C above.
Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
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