Which of the following protects people from incompetent or unscrupulous producers?

Refer to the table above. If the world price of trousers is $5 per pair, then which of the following statements is true?

A) All the four countries will import trousers. B) All the four countries will export trousers. C) Country A and Country D will export trousers, whereas Country B and Country C will import trousers. D) Country B and Country C will export trousers, whereas Country A and Country D will import trousers.

The opportunity cost to the firm of producing one more unit of output is also called marginal cost

Indicate whether the statement is true or false