Compared to free trade, a ban on imports of a good
A) increases the domestic price of the good.
B) decreases consumer surplus.
C) results in a deadweight loss.
D) All of the above.
D
Economics
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The opportunity cost of a good is the same as its
A) money price. B) relative price. C) price index. D) none of the above.
Economics
If an individual firm in a market is a price taker, then:
a. it faces a horizontal demand curve. b. it is operating in a monopolistically competitive market. c. it sells its product at the market price that is solely determined by the buyers. d. it faces a positively sloped marginal revenue curve. e. it faces significant barriers to exit from the market.
Economics