Assume the demand function for good X can be written as Qd = 80 - 3Px + 2Py + 10I where Px = the price of X, Py = the price of good Y, and I = Consumer income. This equation implies that X and Y are substitutes

Which of the following contributes to increasing marginal returns?

A) decreasing implicit costs B) increasing explicit costs C) specialization of labor D) Both answers A and B are correct. E) Both answers A and C are correct.

The economic gains from expanding international trade are measured in hundreds of billions of dollars.

Select whether the statement is true or false. A. True B. False