Domestic currency appreciation? will:
A) help domestic firms that export and hurt domestic firms that import.
B) hurt domestic firms that import.
C) hurt domestic firms that export and help domestic firms that import.
D) help domestic firms that export.
Ans: C) hurt domestic firms that export and help domestic firms that import.
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When pricing is used to limit entry, it is often described as
A) effective. B) predatory. C) exclusive. D) aggressive.
In Figure 32.1, at the market price-quantity combination where production is unlimited, and the government buys the excess, the consumer surplus is Image
A. P*AC. B. HP*C. C. HpfloorBG. D. APfloorB.
An increase in demand will cause a relatively small increase in price when:
A. the increase in demand is large. B. demand is highly elastic. C. supply is highly inelastic. D. All of these
In the case of a natural monopoly, two firms can produce at lower average cost than one firm can.
Answer the following statement true (T) or false (F)