In the figure above, what is the total revenue at point A?
A) $20
B) $150
C) $170
D) $3,000
E) 150 quantity units
D
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Suppose that two countries, A and B, employ the same technology in the production of a good. External economies of scale apply in both countries
Analyze the effects of trade on long-run production levels if country A has a comparatively lower cost of production when trade begins.
Which of the following would result from a tariff?
a. An increase in government budget deficit b. An increase in domestic production c. A greater volume of international trade d. Increased domestic consumption e. Decrease in prices of the imported goods
The federal government employs more civilians than state and local governments
a. True b. False Indicate whether the statement is true or false
Consider Figure 8.9. David chooses to charge a low price:
A. only if Becky chooses a high price. B. only if Becky chooses a low price. C. regardless of whether Becky chooses a high or low price. D. in order to induce Becky to choose a high price.