Dumping occurs when a foreign firm sells its exports at a lower price than it costs to produce them
Indicate whether the statement is true or false
TRUE
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Which of the following will happen if some firms in a monopolistically competitive market incur losses in the short run and the market conditions are not expected to change?
A) The existing firms will continue production in the long run. B) The demand for the goods produced by the firms will decrease. C) New firms will enter the industry in the long run. D) Some firms will exit the industry in the long run.
Comment on the following statement: "When firms are earning positive profits, the industry supply curve will shift to the right."
What will be an ideal response?
Economic regulation occurs when
a. monopoly is the optimal market structure b. the industry is highly competitive c. the product is important to economic welfare d. the government owns the assets of the industry e. the product price, if left unregulated, would be too low
A data set is a balanced panel if it _____.
A. consists of a sample of individuals, households, firms, cities, states, countries, or a variety of other units, taken at a given point in time B. consists of observations on a variable or several variables over time C. consists of data for each cross sectional units over the same time period D. consists of time-demeaned data for different cross sectional units