In the last few decades there has been little progress in lowering the barriers to international trade.
Answer the following statement true (T) or false (F)
False
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Company A manufactures a single automotive component. It had total revenue of $100,000 and an economic profit of $20,000 . What is the price of the component it manufactures?
a. ($100,000/quantity sold). b. ($100,000/quantity produced). c. ($100,000/quantity sold) ? average cost of the product d. ($100,000/quantity produced) ? average cost of the product
Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 
Figure 7.6Refer to Figure 7.6. If the price of capital is $10 and the price of labor is $20, the optimal production technique is
A. A. B. B. C. C. D. D.
If the price of an input increases, each individual firm's ________ shifts upward and the ________ shifts to the left.
A. marginal cost curve; industry supply curve B. demand curve; industry supply curve C. marginal revenue curve; marginal cost curve D. supply curve; marginal cost curve
Human capital shortages are not a barrier to economic growth in developing countries.
Answer the following statement true (T) or false (F)