The United States can produce both grain and oil more efficiently than Mexico can, but the United States can produce grain more efficiently than oil. Therefore, according to _______ , a basis for trade exists between the two countries.

Today's corporate structures have very little in common with the joint-stock companies of colonial America

Indicate whether the statement is true or false

Consider the market for nonalcoholic beers from the previous question. Boors' price in a Nash equilibrium (assuming Bertrand competition in these differentiated beers) is about

a. 1.71 b. 2.55 c. 3.55 d. 4.29