Which of the following would tend to increase the price of lumber?

a. a technological advance that lowers the cost of cutting timber

b. an increase in the demand for newly constructed homes

c. a decrease in the demand for wooden rocking chairs

d. a decrease in the tax imposed on firms who produce lumber

Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.