If most passenger trains operate far below full capacity and demand is ____, reducing travel fares would be likely to increase total revenue

According to the HO model, countries with different factor endowments but similar technologies and preferences will have a strong basis for trade with each other

Indicate whether the statement is true or false

Suppose a large tree on Adam's property blocks Eve's view of the ocean. Adam accepts Eve's offer of $15,000 to cut down the tree. This is an example of

A) internalizing externalities via voluntary agreements. B) a result of logrolling. C) a consequence of a positive externality. D) a consequence of private costs exceeding social costs.