An assumption behind the infant industry argument for tariff protection is that

A) foreign competitors are selling output below average cost.
B) the domestic industry will be facing an upward adjustment in its average cost.
C) the domestic industry will eventually gain comparative advantage in producing the good.
D) the market needs additional competition to satisfy consumer demand.

C

Economics

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Which of the following is TRUE for a single-price monopolist?

A) P > MR B) P < MR C) P = MR D) P = elasticity of demand

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A major purchaser of corporate bonds is

A) state and local governments. B) money market mutual funds. C) pension and retirement funds. D) the Federal Reserve.

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