In a simple economy without government or foreign trade, any income not consumed is called

Countries that engage in trade will tend to specialize in goods in which they have a(n) _______ and will _______ those goods.

A) comparative advantage; import B) absolute advantage; export C) comparative advantage; export D) economic profit; import

Relative to a simultaneous-move situation, the loss to firm C from having to move second in the game in Scenario 13.14, would be

A) 37. B) 20. C) 12. D) 8. E) 5.