If the United States and Mexico trade Budweiser for Modelo beer, what type of trade does this represent?
What will be an ideal response?
Intraindustry
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Refer to Table 11.1. At the equilibrium level of output, y*, what is the level of imports?
A) 266.25 B) 356.25 C) 1065.00 D) 1425.00
A firm's average total cost is $80, its average variable cost is $75, and its output is 50 units. Its total fixed cost is
A) less than $100. B) between $100 and $200. C) between $200 and $300. D) more than $300.
If a firm's demand curve slopes downward, the firm's
a. marginal revenue will rise as price is reduced b. marginal revenue will generally be less than price c. total revenue will decline continuously as price is reduced d. marginal revenue will always be greater than its demand e. average revenue will increase continuously as output increases
No tax can lead the economy to higher levels of efficiency.
Answer the following statement true (T) or false (F)