Competition forces firms to produce and sell products as long as the ________ to consumers exceeds the ________ of production

Which of the following agreements signed in 1989 is the precursor to NAFTA?

a. the U.S.Mexico Free Trade Agreement b. the Canada-Mexico Free Trade Agreement c. the Canada-U.S. Free Trade Agreement d. the Canada-Mexico-U.S. Free Trade Agreement

The above table gives the demand and supply schedules for cat food

If the price is $3.00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?