__________ means selling goods below their cost of production.
A. Protectionism
B. Dumping
C. Import quotas
D. Non-tariff barriers
Answer: B. Dumping
Economics
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In the long run, in monopolistic competition
A) a firm's price equals its marginal cost. B) firms make an economic profit. C) firms make zero economic profit. D) Both answers A and C are correct.
Economics
Jane is currently developing a model to explain the national unemployment rate. This is an example of
A) a microeconomic topic. B) normative analysis. C) positive analysis. D) how people act in an irrational manner.
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In Figure 2-1, point A is
a. unattainable. b. inefficient. c. efficient. d. preferable to point B.
Economics
If a product has several good substitutes, demand for the product is most likely to be:
A. very inelastic. B. inelastic. C. unit elastic. D. elastic.
Economics