Suevania opens its doors to trade with Barvania. Barvania has a comparative advantage in the production of machinery. Hence, once trade occurs Suevania's consumers will buy ________ machinery and pay ________ before
A) more; a lower price than
B) the same amount of; the same price as
C) less; a higher price than
D) more; a higher price than
E) less; a lower price than
A
Economics
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The economic way of thinking has to do with:
A) analyzing benefits but not costs. B) analyzing costs but not benefits. C) making choices at the margin. D) making the distinction between microeconomics and macroeconomics.
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In the long run, a perfectly competitive firm can make an economic profit because its marginal cost equals its average total cost
Indicate whether the statement is true or false
Economics