The first principle of economics discussed in chapter 1 is that people face trade-offs. use a production possibilities frontier to illustrate society’s trade-off between two “goods”—a clean environment and the quantity of industrial output. what do you suppose determines the shape and position of the frontier? show what happens to the frontier if engineers develop a new way of producing electricity that emits fewer pollutants.

For 2018, rahal's auto parts estimates bad debt expense at 1% of credit sales. the company reported accounts receivable and an allowance for uncollectible accounts of $86,500 and $2,100, respectively, at december 31, 2017. during 2018, rahal's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off. rahal's accounts receivable at december 31, 2018, are:

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Tl & co. is following a related-linked diversification strategy, and soar inc. is following a related-constrained diversification strategy. how do the two firms differ from each other? a. soar inc. generates 70 percent of its revenues from its primary business, while tl & co. generates only 10 percent of its revenues from its primary business. b. soar inc. pursues a backward diversification strategy, while tl & co. pursues a forward diversification strategy. c. tl & co. will share fewer common competencies and resources between its various businesses when compared to soar inc. d. tl & co. pursues a differentiation strategy, and soar inc. pursues a cost-leadership strategy, to gain a competitive advantage.