Relative to the domestic market without trade, when the country is able to import from abroad at a price less than the domestic price, which of the following will NOT occur?
A) The country will be worse off.
B) CS + PS will increase.
C) Producer surplus will decrease.
D) Consumer surplus will increase.
A
Economics
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Indicate whether the statement is true or false
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When Mr. Peabody decides on the companies to which he will donate his time and money, a ________ issue is being addressed
A) microeconomic B) normative economic C) positive economic D) macroeconomic
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What is accounting profit?
A) gross revenue minus explicit and implicit costs B) the same as economic profit C) gross revenue minus implicit costs D) gross revenue minus explicit costs
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What is the marginal cost of producing the third unit?
a. $100 b. $200 c. $300 d. $400
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