In the case of a small country, producer surplus
A) increases more with a tariff than with an equivalent quota.
B) increases more with a quota than with an equivalent tariff.
C) is not changed by tariffs or quotas.
D) increases the same amount with tariffs and equivalent quotas.
D
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In the above figure, the market price charged by this profit-maximizing, perfectly competitive firm is
A) $5 per unit of output. B) $10 per unit of output. C) $8 per unit of output. D) $14 per unit of output.
The graph below depicts long-run supply for:
A. A constant-cost industry
B. A decreasing-cost industry
C. An increasing-cost industry
D. None of these
The governmental expense of a farm price support tends to diminish as the price of the good rises.
Answer the following statement true (T) or false (F)
How international immobility of resources is compensated by international flow of goods
What will be an ideal response?