A nation can determine how close it is to the classical range by considering its:

In the equilibrium for a common resource with no government regulation

a) marginal private benefit equals marginal cost b) marginal social benefit is greater than marginal cost c) marginal social benefit equals marginal cost d) marginal social benefit is greater than marginal private benefit

This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.According the graph shown, if this economy were open to free trade, it would:

A. export this good, because the world price is greater than the domestic price. B. import this good, because the world price is greater than the domestic price. C. import this good, because the domestic price is greater than the world price. D. export this good, because the domestic price is greater than the world price.