A competitive market with no externalities is efficient when it is in equilibrium because
A) total benefit equals total cost.
B) marginal benefit equals marginal cost.
C) consumer surplus equals producer surplus.
D) the sum of consumer surplus plus producer surplus is minimized.
E) the deadweight gain equals its maximum.
B
Economics
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When a U.S. company shifts some of its production to Mexico, it is engaging in
A) involuntary exchange. B) outsourcing. C) insourcing. D) self-sufficiency.
Economics
Interindustry trade is not based on comparative advantage since it consists of the export and import of similar countries and mostly between countries that have similar productivity, technology, and factor endowments
Indicate whether the statement is true or false
Economics