Which of the following is true at each output level for a perfectly competitive firm?

The way in which a country benefits from trade is that it can

a. obtain goods at lower opportunity cost than producing them itself. b. exploit economies of scale in production and lower the cost of goods it produces. c. obtain a wider range of goods than it can produce for itself. d. All of the above are benefits.

Consumer surplus increases as the price of a good decreases.

Answer the following statement true (T) or false (F)