Tariffs and quotas:
A. benefit producers of protected products but harm domestic consumers.
B. benefit both producers of protected products and domestic consumers.
C. benefit neither producers of protected products nor domestic consumers.
D. benefit domestic consumers at the expense of producers of protected products.
A. benefit producers of protected products but harm domestic consumers.
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For which pair of firms would a merger be horizontal?
a. Avis Rentals and United Airlines b. Rawlings and Nike c. Barnes and Noble and Wordsworth Booksellers d. Starbucks and Baskin and Robbins e. Samuel Adams and Samsonite
Accounting costs are often unsatisfactory from the economist's point of view because
a. they fail to allow for depreciation, the wearing out of capital assets during a period. b. they often exclude the opportunity costs of the firm's equity capital. c. accountants attempt to minimize costs in order to make profits look good. d. accounting procedures are designed to overstate costs in order to minimize business tax liability.