A nation's producers can compete effectively with imports from other nations if it has
a. high wages
b. low wages
c. low labor cost per unit of output
d. less specialization
e. low labor productivity
C
You might also like to view...
Without price discrimination, a firm
A) faces a tradeoff when pricing a good that has customers with different willingness to pay. B) cannot maximize profit. C) has no market power. D) does not get any producer surplus, with all of the surplus going to consumers.
Which of the following is an amendment that strengthened the Sherman Antitrust Act?
a. Celler Kefauver Act. b. Clayton Act. c. Robinson-Patman Act. d. Tyler Act.
The larger the slope of the AE curve, the
a) larger the value of the multiplier b) smaller the value of the multiplier c) less likely that the multiplier will be affected d) more likely the multiplier will be inconsequential
Bars often offer specials on appetizers during "happy hour." What does the concept of price discrimination suggest about why this might be profit-maximizing behavior?
What will be an ideal response?