Protectionist policies are designed to help domestic producers by making imported goods more costly or difficult to obtain

Fresh orange juice and frozen orange juice are substitutes in production. The price of fresh orange juice rises. As a result, the equilibrium price of frozen orange juice ________ and the equilibrium quantity ________

A) rises; increases B) rises; decreases C) does not change; decreases D) falls; increases E) falls; decreases

On a bar graph comparing a firm's economic profit with its accounting profit, it will always be TRUE that

A) explicit costs will be greater in the column representing accounting profit. B) explicit costs will be greater in the column representing economic profit. C) total revenue will be greater in the column depicting accounting profit. D) opportunity costs will be missing from the column depicting accounting profit.