The table above represents the marginal cost and marginal benefit associated with pizza (in terms of movies). What quantity of pizza should be produced if resources are to be used efficiently?

A monopsony restricts the quantity of a factor demanded to force down the price of the factor and increase profits

Indicate whether the statement is true or false

The law of comparative advantages explains why

a. advanced nations will not trade with less-developed countries. b. an advanced nation will not trade with other countries. c. less-developed countries only trade among themselves. d. nations trade with each other, regardless of their relative levels of economic development. e. nations erect trade barriers.