Quotas on an imported product
A. benefit domestic producers of the product.
B. benefit foreign producers of the product.
C. benefit domestic consumers of the product.
D. hurt foreign consumers of the product.
Answer: A
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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?
This study was the catalyst for the early 20th century reform of medical education in the United States. What was it?
a. Coolidge Commission. b. Hill-Burton Committee. c. Mangrum Report. d. Flexner Report. e. Kaiser Foundation Study.
What causes AD1 to shift to AD2 in graph 2?
a. a stable PL1 in graph 2
b. a shift from MS2 to MS1 in graph 1
c. a shift from RGDP1 to RGDP2 in graph 2
d. a shift from i1 to i2 in graph 1
The long-run industry supply curve is made up of the zero-profit equilibrium levels of output as the industry expands due to entry of new firms.
Answer the following statement true (T) or false (F)