A tariff can be defined simply as a
a. A tariff can be defined simply as a
b. tax on exports
c. legal limit on imports.
d. legal limit on exports.
a
Economics
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Suppose that firms in a competitive industry are earning positive economic profits. All else equal, in the long run, we would expect the number of firms in the industry to
a. increase. b. decrease. c. remain the same. d. We do not have enough information with which to answer this question.
Economics
Distinguish the laws of demand and supply. How are the laws of demand and supply illustrated graphically?
What will be an ideal response?
Economics