When a country both exports and imports a type of commodity, the country is engaged in
A) intra-industry trade.
B) increasing returns to scale.
C) imperfect competition.
D) inter-industry trade.
E) an attempt to monopolize the relevant industry.
A
Economics
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The aggregate production function is Y = 5K0.5L0.5. If there are 49 units of capital and 16 units of labor, aggregate output is
A. 60 units B. 70 units. C. 140 units. D. 325 units.
Economics
________ refers to the dominant firm's attempt to drive rivals out of business by temporarily setting price below cost or dropping the price only in certain markets
a. Herfindahl pricing b. Per se pricing c. Predatory pricing d. Marginal cost pricing
Economics