The Basel Accord, an international agreement, requires banks to hold capital based on

Scarcity requires that people must

A) cooperate. B) compete. C) trade. D) make choices.

A perfectly competitive firm's marginal revenue

A) is greater than its price. B) is less than price because a firm must lower its price to sell more. C) is equal to its price. D) may be either greater or less than its price, depending on the quantity sold.