Once trade begins, a country will tend to specialize completely in the production of its export good
Indicate whether the statement is true or false
TRUE
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If the price of the good measured along the vertical axis increases without a change in the price of the good measured along the horizontal axis, the consumer's budget constraint:
A) pivots rightward without a change in the intercept on the horizontal axis. B) pivots leftward without a change in the intercept on the horizontal axis. C) shifts to the right. D) shifts to the left.
The table above shows the marginal benefit from pizza and the marginal cost of pizza in cans of soda forgone
If ________ pizzas are produced, the quantity of soda that people are willing to give up to get an additional pizza is more than the quantity of soda that they must give up to get that additional pizza. A) any quantity other than 40 B) 40 C) more than 40 D) fewer than 40
Holding everything else constant, government approval of horizontal mergers is more likely to be granted if the "market" that firms are in are broadly defined rather than narrowly defined
Indicate whether the statement is true or false
Graphically, consumer surplus is the area below the demand curve and above the price
a. True b. False Indicate whether the statement is true or false