If a country allows free trade and its domestic price for a given good is lower than the world price, then it will import that good

The act of buying a product at a low price in one market and reselling the product at a higher price in another market is called arbitrage

Indicate whether the statement is true or false

Marginal utility is always ______ total utility.

a. greater than b. less than c. equal to d. irrelevant to