In general, the marginal cost of avoiding an accident ________ as more actions are taken and the associated marginal cost curve is ________ sloping.
A) falls; upward
B) rises; downward
C) falls; downward
D) rises; upward
B) rises; downward
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Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.
Compared to a firm in perfect competition, the monopolistically competitive firm tends to
a. produce less and charge a higher price b. produce less and charge a lower price c. produce more and charge a lower price d. produce more and charge a higher price e. produce the same quantity
The difference between absolute advantage and comparative advantage is called gains from trade
Indicate whether the statement is true or false
The difference between a nation’s value of its exports and imports is called the balance of _________.
a. trade b. payments c. goods d. shipments