International trade and competition from abroad

a. provide domestic producers with a strong incentive to improve the quality of their products and keep their costs low.
b. will make it more difficult for domestic producers to realize fully the potential gains from economies of scale in production.
c. will make it more difficult for domestic consumers in small countries to purchase from large scale producers.
d. do all of the above.
e. do none of the above.


A

Economics

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A firm sells 300,00 . units per week. It charges $ 35 per unit, the average variable costs are $ 40, and the average costs are $ 55, the firm should

a. Shut-down as the firm is making a loss of $15 million per week b. Shut-down as the firm cannot cover the variable costs c. Both a and b d. None of the above

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In the monopoly market structure, new firms

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Economics

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a. the decisions of individual households and firms. b. the interaction between households and firms. c. economy-wide phenomena. d. regulations imposed on firms and unions.

Economics