Two friends, one an engineer and the other an accountant, decide to form a partnership. If the accountant takes care of the books and the engineer runs the factory, they are likely to enhance the economy's productivity through:

Trade without serious income distribution effects is most likely to happen

A) in sophisticated manufactures trade between rich countries. B) in simple manufactures trade between developing countries. C) in sophisticated manufactures trade between rich and poor countries. D) in agricultural trade between rich countries. E) in labor-intensive industries like clothing.

To sell one more unit of a good, a monopolist must

A) lower the price on the last unit only. B) lower the price on all units. C) raise the price only on the last unit sold. D) raise the prices on all goods.