Relative to a situation in which domestic firms do not compete with foreign firms, firms in countries that engage in free trade
a. can realize economies of scale more fully.
b. have greater market power.
c. experience larger producer surplus.
d. All of the above are correct.
a
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Capital gains are the profit earned from the sale of
A) stocks. B) real estate. C) bonds. D) all of the above.
Demand relates the amounts of a good purchased to
A) the amounts actually obtained. B) the gross domestic product. C) the quantity needed. D) the sacrifices required to obtain the good. E) the time required to produce the good.
In 2001, Greece had a per-capita GDP ________ percent lower than Netherlands' per-capita GDP.
A. 20 B. 40 C. 30 D. 50
Andy does not bother to lock the door to his house because he has theft insurance. This is an example of:
A. a positive spillover. B. moral hazard. C. adverse selection. D. irrational behavior.