Protection of an infant industry should be withdrawn once that industry:
a. charges the same price as foreign competitors.
b. goes public on the stock exchange.
c. raises a large amount of sales revenue.
d. achieves sufficient size to compete with foreign firms.
e. earns enough profit as a result of the subsidies to remain in business.
d
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Use the figure below to answer the following question.
A decrease in supply would best be reflected by
A. a shift from supply curve A to supply curve C. B. a movement from point 4 to point 3. C. a shift from supply curve C to supply curve B. D. a movement from point 1 to point 2.
Is coal a produced factor of production?
The theory of efficiency wages provides a possible explanation as to why
a. workers form unions. b. firms should try to reduce surpluses of labor. c. firms may be inclined to keep their workers' wages above the equilibrium level. d. firms may be inclined to keep their workers' wages below the equilibrium level.
If supply decreases while demand is unchanged, the equilibrium price ____ and the equilibrium quantity ____. Question 24 options:
A. does not change; does not change B. rises; decreases C. rises; increases D. falls; increases E. falls; decreases