According to the graph shown, if this economy were open to free trade, and decided to impose a tariff, the domestic quantity demanded would:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. decrease from 1500 to 1150.
B. increase from 1150 to 1500.
C. increase from 815 to 1150.
D. decrease from 1150 to 815.
A. decrease from 1500 to 1150.
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Slick Shades has a constant marginal cost of production equal to $80 and the distributors have a constant marginal cost of distribution equal to $30. If Slick Shades vertically integrates with the perfectly competitive distributors, the profit-maximizing quantity will be ________ the profit-maximizing quantity if they did not vertically integrate and the combined firm will earn ________ profit if
they did not vertically integrate.
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) the same as; greater
B) greater than; the same
C) the same as; the same
D) greater than; greater
Suppose the U.S. dollar weakens against the euro (and against other major currencies). We know with certainty that this weakening of the dollar will cause which of the following to occur?
A) a recessionary gap B) an inflationary gap C) a deflationary gap D) none of the above
Indemnity coverage does not include:
a. compensation toward the cost of medical services in the event of illness. b. compensation toward the cost of medical services for routine health issues. c. compensation toward the cost of medical services in the event of injury. d. both b. and c.
To say people respond to incentives means that people may alter their decisions when the costs and benefits of an action change
a. True b. False Indicate whether the statement is true or false