The argument that foreign trade should be restricted to protect domestic employment and output is based on the idea that:
a. consumers are willing to pay higher prices for domestic goods.
b. producers will not exploit reduced foreign competition by charging higher prices.
c. foreign companies are more costly to deal with than domestic companies.
d. sales of imports come at the expense of domestic goods and jobs.
d
Economics
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Refer to the scenario above. What is Sarah's opportunity cost of producing one greeting card?
A) 0.33 earrings B) 0.5 earrings C) 1 earring D) 3 earrings
Economics
Cindy's Sweaters' production function is shown in the above table. Cindy rents two knitting machines for $30 a day each and hires workers at a wage rate of $40 a day
If Cindy produces 20 sweaters per day, what is her average fixed cost of production? A) $3.00 B) $3.33 C) $8.00 D) $11.00
Economics