Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The charge of dumping electric lawnmowers in the Omegalon market means that Alphonia was accused of
A) selling faulty electric lawnmowers in Omegalon.
B) discarding electric lawnmowers which would not sell in their home country.
C) selling electric lawnmowers below cost or below domestic prices.
D) selling counterfeit-branded electric lawnmowers in Omegalon.
C
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Under what conditions would a perfectly competitive cotton farmer who is incurring an economic loss temporarily stay in business?
A) if the total revenue exceeds the total fixed cost B) if the total revenue exceeds the total variable cost C) if the total revenue is positive D) if the total revenue is increasing E) if the marginal revenue exceeds the price.
An increase in the demand for rubles causes the ruble to appreciate
a. True b. False Indicate whether the statement is true or false
If the price elasticity of demand is 1.5, regardless of which two points on the demand curve are used to compute the elasticity, then demand is
a. perfectly inelastic, and the demand curve is vertical. b. elastic, and the demand curve is a straight, downward-sloping line. c. perfectly elastic, and the demand curve is horizontal. d. elastic, and the demand curve is something other than a straight, downward-sloping line.
A government agricultural policy in which a mandated minimum price is set is the
A) marketing quota system. B) acreage allotment program. C) price support program. D) target price system. E) paying farmers not to produce system.