What is an arrangement between countries to allow free trade between members called?
a. economic union
b. common market
c. trade forum
d. free trade agreement
d. free trade agreement
Economics
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A market economy produces the optimal amount of each good at least cost where:
A) P > ATC. B) P = ATC. C) P > AVC. D) P = MR.
Economics
If price is initially above the equilibrium level,
A) the supply curve will shift rightward. B) the supply curve will shift leftward. C) excess supply exists. D) all firms can sell as much as they want.
Economics