If the price of a hamburgers increases, the substitution effect works to

Textbook examples of trade between two nations are simplified in order to show how two nations both benefit from trade. These examples are misleading because

A) some individuals in both countries may be made worse off because of trade. B) trade restrictions are likely to be imposed as trade grows over time. C) they do not account for the reduction in wages that occurs in both countries as a result of trade. D) in the real world, rich countries can take advantage of poor countries.

Refer to Figure 13-4. What is the area that represents the total revenue made by the firm?

A) 0P0aQa B) 0P2cQa C) 0P1bQa D) 0P3dQa