Refer to Figure 15-4. In the figure above, a movement from point A to point B would be caused by

Refer to Figure 2-14. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of popsicles?

A) Greenland B) They have the same advantage. C) Iceland D) cannot be determined Table 2-20 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.

If Ben values good X more than good Y, and Catherine values good Y more than good X, a firm can increase its profits by

A) charging the same price for both goods. B) bundling the goods. C) selling the goods in a competitive market. D) charging one price per good.