In order for an economy to increase its production possibilities, the economy must
A. increase its wants.
B. reduce output.
C. be very efficient.
D. increase inputs.
Answer: D
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Brazilian subsidies on its exports of furniture to the United States. Which type of tariff will be applied on U.S. imports of Brazilian furniture?
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The table below shows cost data for a perfectly competitive firm.OutputAverage Variable CostAverage Total CostMarginal Cost0---22.5027.502.542.0014.501.562.0010.332.082.138.382.5102.307.303.0122.506.673.5143.006.576.0164.007.1311.0The firm will produce output in the short run only if the market price is at least equal to
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