Which of the following would most likely shift a production possibility frontier (PPF) outward (i.e., an increase in the PPF)?

Which economic system relies on centralized planning?

If consumers expect the price per gallon of gasoline to drop significantly next week, what is the immediate effect on today’s market for gasoline. Of the four markets below, select the one that best represents the change in today’s gasoline market. Please note, the market labels for each graph appear above the graph.

Wildfires in the Napa Valley area of California destroyed grapes used in the production of wine. Of the four markets represented below, which demonstrates the effect of the wildfires on the market for wine? Please note, the market labels for each graph appear above the graph.

On a production possibilities frontier (PPF) (or also known as production possibilities curve), an inefficient point is:  

Which of the below markets best represents what will happen in the market for marijuana when the market is legalized? The subscript 0 refers to the situation when the market is illegal, and the subscript 1 refers to the situation when the market is legalized. Please note, the market labels for each graph appear above the graph.  

Two cities reside on opposite sides of a river. Currently, there is only one two-lane bridge across the river to connect the cities. Both cities are experience economic growth and have hired economists to do a benefit-cost analysis to determine the optimal number of additional bridges to build. All dollar values in the table are in millions of dollars. Some cells in the table are left blank. You will need to calculate the missing values to answer the set of multiple choice questions. Number of Bridges MSB ($) TB ($) MSC ($) TC ($) NB ($) 0 — 0 — 0 1 20 20 2 2 18 2 18 3 5 33 3 16 54 5 10 44 4 14 68 7 5 12 80 8 25 6 10 90 10 35 7 98 47 8 6 104 15 62 42 How many bridges should the two cities build?

A recent study found that coffee is rich in antioxidants, and that drinking coffee daily will ower risks of Alzheimer’s diesease, improve brain function and mood, and increase beneficial gut bacterial (see BllomberBusiness, Feb 19, 2015). Of the four markets represented below, which demonstrates the effect of the study on the market for coffee? Please note, the market labels for each graph appear above the graph. 

Which market structure has many buyers, many sellers, and homogeneous goods?

Under the parol evidence rule, oral evidence will be excluded if it relates to