The ability to produce an item at a lower opportunity cost compared with other producers is known as
A) competitive dominance.
B) productive dominance.
C) comparative advantage.
D) absolute advantage.
C
Economics
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Refer to the figure above. What is the price at which the monopolist should sell its output?
A) $3 B) $4 C) $6 D) $9
Economics
Total utility is maximized when a consumer has spent all of his or her income and
A) spent equal amounts on all goods. B) marginal utility is maximized. C) the total utility per dollar from all goods is equal. D) the marginal utility per dollar from all goods is equal.
Economics