Though the countries can benefit by completely specializing in the production of the good in which they have comparative advantage, in real world however, they do not completely specialize

________ marginal opportunity cost implies that the more resources already devoted to any activity, the payoff from allocating yet more resources to that activity increases by progressively smaller amounts

A) Constant B) Increasing C) Decreasing D) Negative

The unregulated profit maximizing monopolist prefers to operate where demand is inelastic

Indicate whether the statement is true or false