According to the graph shown, the amount bought by domestic consumers when there is open trade for this good is:
This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price for that good.
A. 1500.
B. 1150
C. 500.
D. 250.
A. 1500.
You might also like to view...
A regulated natural monopolist allowed to earn a "fair" rate of return would produce to the point at which
A) the price per unit equals the long-run average cost. B) the marginal revenue curve meets the long-run average cost curve. C) the marginal revenue curve meets the long-run marginal cost curve. D) the price per unit equals its marginal revenue.
If a country’s GDP increases, but its debt decreases during that year, then the country’s debt to GDP ratio for the year will _______________ in proportion to the magnitude of the changes.
A. decrease because its debt decreased B. Bincrease because GDP increased C. decrease D. increase or decrease
If a firm is producing an output rate at which marginal cost is equal price, the firm
A) is maximizing profits. B) should increase its output level. C) should reduce its output level. D) will not be covering its fixed cost.
A benefit of a monopoly is
a. efficient production. b. decreasing long-run marginal costs. c. profit that can be invested in research and development. d. All of the above are correct.