In comparing a tariff and an import quota, we find that:
A. the tariff and quota both generate the same amount of revenue for the U.S. Treasury.
B. the tariff generates revenue for the U.S. Treasury, but the quota does not.
C. the quota generates revenue for the U.S. Treasury, but the tariff does not.
D. neither the tariff nor the quota generates revenue for the U.S. Treasury.
B. the tariff generates revenue for the U.S. Treasury, but the quota does not.
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Suppose Asarta Inc. is polluting yucko and they have been tasked with cleaning up some of their waste. The company decides to clean up Q tons of yucko-are they cleaning up enough?
A. Yes, because the MB > MC B. No, because the MC > MB C. Yes, because the MC > MB D. No, because the MB > MC
The marginal revenue curve for a perfectly competitive firm is
A. upward sloping. B. vertical. C. horizontal. D. downward sloping.