If the United States, at the point where it is currently producing, must give up the production of 500 bicycles (B) to produce 20 additional tractors (T) with the same resources, the opportunity cost of producing 5 tractors is _______ bicycles.

Fill in the blank: Middlemen tend to have ________ in information production

A) no interest B) a comparative advantage C) a monopoly D) little time to engage E) a wasteful way of engaging

If the United States imposes a quota on French wines, the result in the short run is likely to be ________ profits for American wine producers and ________ profits for French wine producers.

A) lower; lower B) lower; higher C) higher; lower D) higher; higher