Which of the following is NOT true about a tariff?
A) It is a barrier to entry in a market.
B) It leads to a natural monopoly.
C) It is a tax.
D) It affects imported goods.
B
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Given that most investors tend to be risk averse,
A) no one buys risky assets. B) there's a trade-off between risk and return. C) low risk assets provide the best return. D) it must be a superior strategy compared to one that is risk loving.
Given a perfectly competitive market structure at the profit-maximizing output level, a firm's total fixed cost is $15, total variable cost is $137, marginal revenue is $4, and the quantity demanded is 65 . The total profit earned by the firm is $108
a. True b. False Indicate whether the statement is true or false
If marginal cost is rising in a competitive firm's short-run production process and its average variable cost is falling as output is increased, then which statement is true?
a. Marginal cost is above average variable cost. b. Marginal cost is below average fixed cost. c. Marginal cost is below average variable cost. d. Average fixed cost is constant.
Diminishing marginal utility means that as more of a good is consumed
A. the rate at which total utility increases stays the same. B. there is no impact on the rate of change of total utility. C. the rate at which total utility increases starts to increase. D. the rate at which total utility increases starts to diminish.