The higher the world price above the domestic no-trade equilibrium, the lesser the quantity of a good exported by a country
a. True
b. False
Indicate whether the statement is true or false
False
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In economics, the term ________ refers to a group of buyers and sellers of a product and the arrangement by which they come together to trade
A) trade-off B) collective C) cooperative D) market
In terms of location decisions, firms evaluate the extent to which the labor force is unionized
Indicate whether the statement is true or false
Explain why a firm must consider variable costs rather than fixed costs, when deciding whether to produce
Of the following, the most likely example of price discrimination is when:
A. restaurants charge different prices for chicken and beef. B. hotels charge different rates for the same rooms when conventions are held. C. supermarkets charge different prices for oranges and apples. D. a firm sells different shoes for different prices.