A perfectly competitive firm's marginal revenue
A) is greater than its price.
B) is less than price because a firm must lower its price to sell more.
C) is equal to its price.
D) may be either greater or less than its price, depending on the quantity sold.
Answer: C
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The most successful free trade agreements achieve all of the following goals, except:
a. benefiting exporters by increasing exports to member countries. b. ensuring that production occurs on the basis of comparative advantage. c. benefiting consumers by making a wider variety of goods available at a lower price. d. stimulating trade creation to allow the benefits of trade to be realized. e. protecting domestic industries from foreign competition.
Tariff accounts for 32% of the total government revenue in the U.K. and only 1.2% in India
a. True b. False Indicate whether the statement is true or false