Refer to the accompanying figure to answer the following questions.
-Which of the following is the most efficient price and quantity combination for society?
Definitions:
Specialization
The process of concentrating on and becoming expert in a particular subject or skill.
International Trade
The exchange of goods and services between countries, allowing for increased efficiency and market expansion.
Labor
The work and time for which employees are paid.
Resources
The total means available for economic and political development, such as minerals, labor, and capital.
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