If Italy can produce grapes at a lower opportunity cost than any other nation, Italy is said to have a(n) ________ in the production of grapes

We can expect deviations from PPP because of

A) quotas and tariffs. B) transportation costs. C) differentiated goods. D) All of the above.

Under the theory of perfect competition, firms and buyers know the availability and prices associated with all products in the market

a. True b. False Indicate whether the statement is true or false