Refer to the diagram. If labor is the only variable input, the average product of labor is at a:

What is one reason activists might lobby the government for regulation limiting the production of a product to less than would normally be in a perfectly competitive market?

A) They value consumer surplus more than producer surplus. B) They value producer surplus more than consumer surplus. C) They seek to avoid future regulation. D) They seek to minimize total surplus.

International trade equalizes the opportunity cost of producing any good around the world

a. True b. False