The world price of steel is $100 a ton. Before international trade, the price of steel in India is $60 a ton. If India begins trading internationally, the price of steel in India ________ and steel mills in India ________ the quantity they produce
A) rises; increase
B) falls; increase
C) does not change; increase
D) rises; decrease
E) falls; decease
A
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For a perfectly competitive firm, marginal revenue product is equal to:
a. the difference between marginal revenue and marginal cost. b. the product price multiplied by total output. c. the change in total product arising from a unit change in resource usage. d. marginal product multiplied by product price.
The multiplier is reduced by an income tax because an income tax reduces the fraction of each dollar of GDP that consumers actually receive and spend.
Answer the following statement true (T) or false (F)
Discuss the political pressures associated with monetary policy. What has the United States done to try to reduce these political pressures?
Please provide the best answer for the statement.
In a two-sided market, an intermediary firm that links groups of producers and consumers is called
A) an operator. B) an oligopoly. C) a platform. D) an end user.