Refer to the scenario above. What is likely to be the impact on Firm A's sales if Firm B decides to sponsor the event while Firm A decides not to sponsor the event?

A producer is said to have an absolute advantage in the production of a good when:

A) the producer can produce more units of the good per hour than another producer. B) the producer has a lower opportunity cost than another producer. C) the producer has a higher opportunity cost than another producer. D) the producer can sell the good at a higher price than another producer.

Which of the following is not considered a rationale for the intervention of government in the market process in the United States?

A) the redistribution of income B) the reallocation of resources C) the long-run planning of scarce resources D) the short-run stabilization of prices E) All of the above