An effective import quota
a. lowers the price of imports
b. lowers the price of domestic goods competing with imports
c. increases the variety of goods available to the consumer
d. increases tax revenues
e. lowers the quantity demanded of the imported good
E
You might also like to view...
A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. At this output, average total cost is $15. What is the total profit earned?
A) $225 B) $285 C) $345 D) $570 E) $19
Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of coconuts in Costa Rica?
A) 3/8 of a ton of pineapples B) 2/3 of a ton of pineapples C) 1 1/2 tons of pineapples D) 100 tons of pineapples
What is the most likely effect of the development of XBOX with DVD capabilities on the DVD player industry?
a. Increased price elasticity of demand for the DVD player industry because XBOX are complements b. decreased price elasticity of demand for the DVD player industry because XBOX are complements c. Increased price elasticity of demand for the DVD player industry because XBOX are substitutes d. decreased price elasticity of demand for the DVD player industry because XBOX are substitutes
The budget constraint 12,000 = 2X + 4Y has a slope equal to –2 where Y is on the vertical axis
Indicate whether the statement is true or false