If the demand curve a monopolist faces is perfectly elastic, then the ratio of the firm's price to the marginal cost is

Britain imports some goods and exports other goods primarily because of:

A) free goods. B) specialization. C) unemployment. D) self-sufficiency.

One advantage of the specialization that results from international trade is that countries can take advantage of

A) scale economies. B) production diversification C) smaller countries. D) taste reversals. E) lower transport costs.