Dumping of goods abroad:
A. constitutes a general case for permanent tariffs.
B. may be part of a firm's price discrimination strategy.
C. may be part of a nation's strategy to rectify its trade deficit.
D. drives up prices of the dumped goods.
B. may be part of a firm's price discrimination strategy.
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If you feel you are better off because you receive a 10 percent raise even when the price level also increases by 10 percent, then you are a victim of the
A) real purchasing power effect. B) money income effect. C) real income effect. D) money illusion.
If the price of a visit to Sea World exceeds the marginal cost of the visit by $13, a producer surplus exists for Sea World." Is this statement true or false? Explain your answer
What will be an ideal response?
Which of the following holds true?
A) When the Marginal Product (MP) is rising, Marginal cost (MC) is rising; and when MP is falling, MC is falling. B) When MP is rising, MC is falling, and when MP is falling, MC is rising. C) When MP is rising, MC is constant, and when MP is falling, MC is negative. D) There is no relationship between MP and MC.
The production possibilities curve of a low income country lies outside the production possibilities curve of a high income country
a. True b. False Indicate whether the statement is true or false