In monopolistic competition, barriers to entry give the firms the power to set their price

Given freedom of movement for both goods and resources, if Florida producers specialize in oranges and Georgia producers specialize in peaches, then it would be reasonable to conclude that

a. the opportunity cost of growing oranges is higher in Florida than in Georgia. b. Georgia has a comparative advantage in producing peaches. c. Florida has a comparative advantage in producing peaches. d. total output will be expanded when Georgia allocates more resources to producing oranges and Florida allocates more resources to producing peaches.

Which of the following will cause a decrease in the standard of living for an individual?

A. a decrease in socioeconomic status B. an increase in wealth C. an increase in income D. a decrease in disease