Interlace, Inc produces and a unique soda. The company cannot price discriminate. The figure above shows Interlace's demand curve, marginal revenue curve, and marginal cost curve. Interlace, Inc is definitely

The rapid growth rates of less developed countries (LDCs) after adopting institutions and policies more favorable to economic freedom and voluntary exchange is not surprising when one considers that

a. LDCs can emulate and borrow successful practices and technologies from other, more developed nations. b. foreign aid payments to a less developed country are nearly always expanded rapidly when the country begins to increase its income level. c. the governments of LDCs play a larger role in economic planning, when economic freedom rises. d. economic theory indicates that improvements in institutions normally result from economic growth, rather than growth stemming from better institutions.

The adage, "There is no such thing as a free lunch," is used to illustrate the principle that

a. goods are scarce. b. people face tradeoffs. c. income must be earned. d. households face many decisions.