Refer to the information provided in Figure 9.1 below to answer the question(s) that follow.  Figure 9.1Refer to Figure 9.1. If this farmer is maximizing profits, his profit will be

Excess capacity exists when a firm produces

A) more than the profit-maximizing level of output. B) less than the quantity that minimizes average total cost. C) less than the quantity that minimizes marginal cost. D) more than the quantity that minimizes marginal cost. E) None of the above answers is correct.

If Norwegian workers are more productive than Albanian workers, then trade between Norway and Albania

A) cannot take place because Norwegian goods and services will be less expensive than Albanian goods and services. B) will take place so long as each country has a comparative advantage in a good or service that buyers in the other country want. C) cannot take place until Albanian workers become more productive. D) can take place only if Albania has an absolute advantage in producing a good or service Norwegian buyers want.