Suppose the world price of a good is $4. Based on the table below, the country would
Price Q Demanded Q Supplied
2 100 70
4 95 75
6 90 80
8 85 85
10 80 90
12 75 95
A) import 20 units.
B) export 20 units.
C) import 10 units.
D) export 10 units.
A
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A) operating cost B) marginal cost C) explicit cost D) Any of the above terms are correct.
Over the last several decades, per capita world food production has
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a. True b. False Indicate whether the statement is true or false