Analysis that aims at determining only the economic consequences of a particular policy is called ________ analysis.

What is the profit maximization point for a firm in a purely competitive environment?

a. The output where P = MC b. The output where P < MC c. The output where P > MC d. The output where MR = MC e. The output where AVC < P

In order to protect key industries, some countries impose taxes on their exports instead of imports, mainly because it is easier to collect taxes from the export industry

a. True b. False Indicate whether the statement is true or false