If activists successfully lobbied government to force firms to produce more output than they normally would in a perfectly competitive market,
A) consumer surplus would decline.
B) producer surplus would increase.
C) taxation would solve the problem.
D) total surplus in the market would decline.
D
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Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries. This protectionism will cause the greatest harm to
A) Canadian manufacturers. B) manufacturers who export to Canada. C) the Canadian government. D) Canadian consumers.
The ability of an individual to own and exercise control over scarce resources is called
a. market failure. b. property rights. c. externality. d. market power.
What arguments are made in support of social regulation?
What will be an ideal response?
How did the international monetary system influence macroeconomic policy-making and performance during the interwar period (1918-1939)?
What will be an ideal response?