In the above table, diminishing marginal returns start to occur when the

Suppose a country produces only bikes and clothing. The country achieves an efficient allocation of resources when

A) it can't produce any more bikes unless it gives up clothing. B) it produces equal amount of bikes and clothes. C) the marginal social benefit of producing a bike equals the marginal social cost of producing a bike. D) the prices charged for the goods are as low as possible.

A country that has an absolute advantage in producing all goods will ________

A) have a comparative advantage in some goods but not all B) produce all goods at lowest opportunity cost C) have a comparative advantage in all goods D) not gain from specialization and trade