The American Tire Company has been experiencing a steady loss of market over the past 40 years due to imports of lower-priced tires. Which argument would American Tire most likely present to Congress when it lobbies for trade restrictions?
a. infant industry argument
b. declining industry argument
c. national defense argument
d. antidumping argument
e. loss of domestic jobs
B
Economics
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The above table has the total revenue and total cost schedule for Omar, a perfectly competitive grower of rutabagas. When Omar maximizes his profit, Omar's profit equals
A) $80. B) $11. C) $30. D) $16. E) $105.
Economics
Based on the above table, which of the following is the efficient quantity of output?
A) 31 B) 16 C) 32 D) None of the above answers is correct.
Economics