The above figure depicts the Edgeworth box for two individuals, Al and Bruce. If the endowment is at point a, and trade is possible, which of the following points are possible equilibria?

What the economist calls externalities create social problems

A) because opportunity costs are low when people live close to one another. B) only when the externalities are negative spillovers. C) partly because people have a limited ability to empathize. D) when people know about all the consequences of their behavior.

Write an essay on the role of Congress in U.S. trade policy since 1930

What will be an ideal response?