Multiple Choice
The phrase gains from trade refers to the:
A) profits obtained from sales of a good or service.
B) increase in total output that is realized when individuals specialize in particular tasks and trade with each other.
C) gains that one obtains by taking advantage of an uninformed buyer and selling at a higher than average price.
D) gains that one obtains by taking advantage of a temporary discount,or sale price.
Correct Answer:
Verified
Correct Answer:
Verified
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