Comparative advantage and relative opportunity costs are the same thing.
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Q11: All the costs of a transaction are
Q16: With economies of scale came
A)larger families.
B)simpler business
Q18: What motivates the actions of entrepreneurs in
Q20: Economists argue that which allocation scheme leads
Q21: The ownership of property is not related
Q23: Monopoly is represented by a single seller.
Q24: Arbitrage creates profits but has no effect
Q25: Clearly defined property rights promote the efficient
Q26: First-come, first-serve allocation schemes promote efficiency.
Q27: It is impossible to create a free
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