The Constitution of the United States expressly forbids
A) import tariffs.
B) export tariffs.
C) import quotas.
D) export quotas.
B
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Marginal cost is defined as
a. ?Q/?TC b. TC /Q c. ?TC/?Q d. Q/TC
Suppose a monopolist has TC = 100 + 10Q + 2Q2, and the demand curve it faces is p = 90 - 2Q. What will be the price, quantity, and profit for this firm?
What will be an ideal response?
The balance of trade is sometimes described as the balance of ______________.
a. shipments b. payments c. cash d. exchange
A profit-maximizing firm operating in a monopolistically competitive market that is in a long-run equilibrium has
a. minimized average total cost. b. chosen to produce where demand is unitary elastic. c. produced the efficient scale of output. d. chosen a quantity of output where average revenue equals average total cost.