After the imposition of the quota, the quantity demanded of TVs is ________ thousand. 
A. 20
B. 80
C. 100
D. 40
Answer: B
You might also like to view...
Now suppose competition among several market makers forces the spread down to $4 . How many goods are traded?
a. Four b. Five c. Six d. Seven
In the extended version of the circular flow model,
a. resources flow from the government to firms b. taxes flow from foreign economies to the government c. goods and services flow from households to foreign economies d. resources flow from households to firms e. resource payments flow from households to the government
American textile manufacturers and union members have often lobbied successfully for restrictive quotas limiting the importation of textile products. The major impact of these quotas is
a. a permanent reduction in unemployment in the United States. b. lower prices for American consumers and an improvement in the quality of textile products available. c. higher prices for American consumers, a narrower selection of products, and less competition in the U.S. textile industry. d. long-run profits in the U.S. textile industry that are substantially above market equilibrium.
For a profit-maximizing perfectly competitive, in the long run economic profits are ___________.
Fill in the blank(s) with the appropriate word(s).