In the short run,
a. at least one of the firm's inputs is fixed
b. customer tastes and preferences are fixed
c. the firm may vary all inputs
d. sunk costs are variable
e. government intervention is inevitable
A
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Bondholders have a “prior claim” over stockholders on a company’s earnings or its assets.
Answer the following statement true (T) or false (F)
A monopolistically competitive market is characterized by:
a. one firm selling a unique product. b. many firms selling identical products. c. many firms selling similar but differentiated products. d. few firms selling identical products. e. few firms selling similar but differentiated products.
The basic difference between a tariff and quota is that:
a. quota can be imposed both on imports and exports whereas a tariff can be imposed only on imports. b. quota yields revenue to the government whereas tariff does not yield any revenue. c. tariff reduces the import of the goods with greater certainty than quota as the amount of import restricted by quota depends on the price elasticity of demand for importable. d. tariff is a quantitative restriction on imports whereas quota is an import duty. e. a tariff raises the price of the product only in the domestic market whereas with a quota, both domestic and foreign producers receive a higher price.
The objective of the Doha (Qatar) Round of trade negotiations was to
a. increase tariffs on oil products. b. place quotas on agricultural imports to the Middle East. c. lower trade barriers between countries of varying prosperity. d. put technical barriers on intellectual property.