It is impossible for both nations to gain when trading with one other

In a perfectly competitive market, a(n) ________ occurs because ________

A) efficient outcome; total surplus is maximized B) deadweight loss; firms minimize average minimum cost C) efficient outcome; the fair rules condition is met D) deadweight loss; firms must be price takers E) deadweight loss; total surplus is minimized

Other things equal, the voluntary relocation of employable migrants from low-paying nations to high-paying nations will:

A. increase business or capitalist incomes in the low-paying nations. B. reduce real output in the world. C. increase business or capitalist incomes in the high-paying nations. D. reduce wage rates in the low-paying nations.