The motive for the erecting trade barriers to import goods and services from abroad is to
A. improve economic efficiency in that nation.
B. protect and benefit special interest groups in that nation.
C. reduce the prices of the goods and services produced in that nation.
D. expand the export of goods and services to foreign nations.
B. protect and benefit special interest groups in that nation.
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A firm has two customers with non-identical demands and a constant marginal cost of production. At any positive price, the consumer surplus values for the two customers are related as CS2 ? CS1
What can we say about the optimal two-part tariff for the firm? A) The firm sets the price equal to MC and the optimal tariff is equal to CS2. B) The firm sets the price equal to MC and the optimal tariff is equal to CS1. C) The firm sets the price equal to MC and the optimal tariff is equal to zero. D) The optimal price is greater than MC and the optimal tariff is equal to CS1.
Productivity in manufacturing sectors has risen faster than in service sectors.
Answer the following statement true (T) or false (F)
The economic burden of an excise tax
A. can usually be partially shifted from buyers onto sellers. B. equals the revenue from the tax. C. is less than the burden of an income tax that would raise the same revenue. D. is shared equally by buyers and sellers.
The manager of the sales department (a profit center) at Harvey's HVAC, decides to outsource any sales training that the division needs since in house training is expensive, even though the outsourced training does not cover the company's repair and warranty information from the service department. Does the Sales department have enough incentive to make a good decision?
a. Yes, because them making the right decision would increase the division profit b. No, because them making the right decision does not affect the division profit c. No, because them making the right decision decreases the division profit d. Yes, because them making the right decision increases the company's total profits