When quotas are eliminated, losers include
A. Domestic producers.
B. Foreign producers.
C. There are no losers when free international trade is established.
D. Domestic consumers.
Answer: A
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If the marginal benefit of reducing emissions of some air pollutant is less than the marginal cost
A) economic efficiency will be increased if further reductions are made. B) pollution taxes should be imposed on producers to pay for further reductions. C) further reductions will make society better off. D) further reduction will make society worse off.
Use the following general linear demand function below: Qd = a + bP + cM + dPRwhereQd = quantity demanded, P = the price of the good, M = income, PR = the price of a good related in consumption.For the general linear demand function given above
A. d is the effect on the quantity demanded of the good of a one-dollar change in the price of the related good, all other things constant. B. b is the effect on the quantity demanded of the good of a one-dollar change in the price of the good, all other things constant. C. ?Qd / ?M = c. D. all of the above
Real-world competition should not be viewed as a static condition but rather as a fight between the forces of monopolization and the forces of competition.
Answer the following statement true (T) or false (F)
The U.S. beer industry has an HHI of 3,525. If two beer producers propose a merger that would increase the industry HHI by 25 points, then the merger would be challenged based on the change in the HHI.
Answer the following statement true (T) or false (F)