Refer to Scenario 15.1. In terms of this year's dollars, this "Fifty Million Dollar" contract is worth approximately

There is no need to allocate property rights in a market-based firm

Indicate whether the statement is true or false

Every society faces economic trade-offs. This means

A) some people live better than others do. B) not everyone can have enough goods to survive. C) producing more of one good means less of another good can be produced. D) society's output cannot be made available to all.