If the production possibility frontier is a straight line, which of the following is true?

Select one:

a.Opportunity costs are constant.

b.The firm faces increasing costs.

c.The firm faces decreasing costs.

d.There is no trade-off between the two goods represented.

In autarky or no-trade, an economy definitely:

Select one:

a.consumes on or below its production-possibilities frontier.

b.consumes on or above its production-possibilities frontier.

c.produces on or above its production-possibilities frontier.

d.produces on or below its production-possibilities frontier but consumes above its production-possibilities frontier.

Informal institutions are:

Select one:

a.traditions.

b.norms.

c.popular myths

d.All of the above.

e.None of the above.