In international trade, an infant industry is one:
a. that protects firms that produce products for infants.
b. with a large number of very small firms.
c. in which the firms are experiencing very small profits.
d. in the early stages of its development.
d
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People seldom break a line while waiting for checkout in a supermarket. This is an example of a ________ to solve an externality
A) Coasian approach B) Pigouvian approach C) command and control mechanism D) social enforcement mechanism
What is a dominant strategy?
What will be an ideal response?
A disagreement involving two or more unions over which should have control over a particular firm or industry is
A) a closed shop. B) a union shop. C) a jurisdictional dispute. D) an industrial union.
"A monopolist can charge whatever price it wants." Do you agree or disagree? Why?
What will be an ideal response?