The major trade groups in South America are CAN and Mercosur.

The no-trade equilibrium in a monopolistic market occurs where:

a. marginal revenue = price. b. marginal cost = marginal revenue. c. market demand = market supply. d. marginal cost = average revenue.

When two nations are interconnected by means of payment systems, trading markets or financial markets, they are called

A) structurally interdependent. B) externalities. C) a monetary union. D) coordinated.