Suppose in a democratic society, all voters prefer choice G over choice B; however, when the two choices are presented along with a third choice, R, B wins the election. This violates the assumption of

Because the United States has ________ advantage compared to China in producing airplanes, China can buy airplanes from the United States at a ________ opportunity cost than that at which China can produce them

A) comparative; lower B) comparative; higher C) absolute; lower D) absolute; higher E) None of the above because China will produce airplanes and sell them to the United States.

Coca Cola and Pepsi, which together account for about 85 percent of the soft drink market, are best described as being in

A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.