Which of the following measures of effectiveness is an intermediate measure?

Refer to Table 9-12. Prior to trade, what was the opportunity cost to produce 1 belt in Estonia?

A) 1/3 of a sword B) 3/5 of a sword C) 1.67 swords D) 5 swords

Which of the following statements is not correct?

a. Part of the deadweight loss associated with monopoly is measured by the monopolist's economic profit. b. Marginal cost is always less than average total cost in a natural monopoly. c. Discount coupons available free to the public are a type of price discrimination. d. Anti-trust laws make it harder for firms to create synergies.