An external benefit is a benefit from an activity that falls on a third party who is not a party to the activity

What is always TRUE about the short-run equilibrium position for a firm in perfect competition?

A) MR = MC = P = ATC = AR B) TR = TC C) MR = MC = P = AR D) MC = ATC

One important issue in the Uruguay round of GATT was

A. the question of the Euro's convertibility. B. the use of trade as a diplomatic weapon. C. the placement of the WTO offices in Uruguay. D. the treatment of copyrighted material.