Japan was accused of dumping in the steel industry within the United States when it
A) negotiated an illegal agreement to raise prices with U.S. steel industries.
B) prohibited imports of U.S. steel into Japan.
C) sold steel in the United States at a price below its cost of production.
D) negotiated an illegal trade deal with Canada.
C
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Use the following graph for a competitive market to answer the question below.
A price floor of $10 per unit will result in a
A. shortage of 200 units. B. surplus of 200 units. C. 50 units being traded. D. No shortage or surplus
In the short run under perfect competition, an individual firm should increase output as long as
a. marginal revenue exceeds marginal cost b. total revenue exceeds total cost c. price exceeds marginal revenue d. total revenue is rising e. marginal revenue is rising
other things constant, countries with higher investment rates will
What will be an ideal response?
Constant returns to scale are associated with a:
A. horizontal short-run average cost curve. B. horizontal long-run average cost curve. C. downward-sloping short-run average cost curve. D. downward-sloping long-run average cost curve.