Dumping is said to occur when
A. Foreign producers sell their goods abroad at prices lower than our average cost of production.
B. Foreign producers sell their goods abroad at prices lower than their marginal cost of production.
C. Some foreign countries have trade surpluses and others have a trade deficit.
D. Foreign producers sell their goods in export markets at prices below domestic prices.
Answer: D
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In the table above, Jill's opportunity cost for 1 pound of food is ________ and her opportunity cost for 1 pound of clothing is ________
A) 1 pound of clothing; 4 pounds of food B) 1/2 of a pound of clothing; 2 pounds of food C) 1/3 of a pound of clothing; 3 pounds of food D) 2 pounds of clothing; 2 pounds of food E) 1 pound of food; 1 pound of clothing
Explain why the education of girls is probably the most cost-effective development investment. Be sure to include in your answer some discussion of at least two of the following: absolute poverty, health and development, fertility, and agriculture
What will be an ideal response?
Refer to Scenario 10.9. What level of output maximizes the sum of consumer surplus and producer surplus?
A) 0 B) 30 C) 45 D) 60 E) none of the above
Which of the following statements about agriculture in the U.S. is correct?
a. Technological improvements typically increase both supply and revenue for individual farmers. b. Technological improvements that increased supply, coupled with inelastic demand for foodstuffs, explain why the number of farmers has decreased dramatically over the last century. c. Because technological improvements increase the supply of a product for which demand is inelastic, an individual farmer would be better off not adopting the new technology. d. All of the above are correct.