A(n) __________ is a standardized agreement that calls for the delivery of a specific underlying commodity or security at some future date at a currently agreed-upon price

The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price equals $16 per unit

A) the market is in its long-run equilibrium. B) over time, firms will leave this market. C) the firm is making zero economic profit. D) over time, the price will fall as new firms enter the market.

In which of these developing regions has food production per capita steadily fallen over the last quarter century?

(a) Africa. (b) East Asia. (c) South Asia. (d) Latin America.