For countries such as the United States and the United Kingdom, it is important to have trade surpluses in order to service their external debts

A single-price monopoly has marginal cost of $23 and marginal revenue of $28. Which of the following is definitely correct?

A) It is maximizing profit. B) To increase profit, it should produce less. C) To increase profit, it should produce more. D) It should shut down. E) It is making an economic profit.

Society's production possibilities curve is primarily concerned with answering the economic question of what goods and services a society can produce.

a. true b. false