Agreement of members of a group on a decision is called

Refer to Figure 4-5. The figure above represents the market for pecans. Assume that this is a competitive market. At a quantity of 12,000 pounds

A) the marginal cost of pecans is greater than the marginal benefit; therefore, output is inefficiently high. B) the marginal benefit of pecans is greater than the marginal cost; therefore, output is inefficiently high. C) the marginal cost of pecans is greater than the marginal benefit; therefore, output is inefficiently low. D) producers should lower the price to $3 in order to sell the quantity demanded of 12,000.

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies

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