The parity price ratio is the ratio of the prices farmers receive from selling their goods to the prices farmers pay when they buy consumer goods, such as shoes
Indicate whether the statement is true or false
T
Economics
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In general, trade restrictions penalize domestic producers and foreign consumers.
a. true b. false
Economics
Which of the following is not a characteristic of a monopolistically competitive firm in long-run equilibrium?
A) Price is equal to average revenue. B) The firm has excess capacity. C) Marginal revenue is equal to marginal cost. D) Price is equal to marginal cost.
Economics