To spur trade, four South American countries decide there will be no barriers to trade between the countries, agree on a common external trade policy, and allow factors of production to move freely between them. In short, the four countries formed a(n) A. command economy. B. customs union. C. common market. D. efficient market. E. free trade area.

Any point on a country's production possibilities frontier represents a combination of two goods that an economy:

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same