The corporate tax applies to firms' total revenues
a. True
b. False
Indicate whether the statement is true or false
False
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A natural monopoly has
A. many producers of the same product. B. easy access to the market. C. a single firm providing the industry's output. D. one buyer of output.
Durable goods are:
a. consumers' goods b. raw materials combined to produce consumer goods c. those that must be replaced after each use d. those that may be stored and repaired e. none of the above
In the long run, in a price-taker market, the price of a good is determined primarily by the
a. average total cost of producing it. b. decision of buyers in determining how much they are willing to pay for the good. c. elasticity of supply. d. number of firms in the industry.
MNEs are attracted to regional trading groups because of their large market sizes and production locations, and because they ________.
A) are good sources for raw materials B) implement trade restrictions C) offer both internal and external tariffs D) have very little competition