A flour mill holding exclusive contracts to 95% of the wheat in a large geographic area may operate as a flour-producing monopoly locally because
A) the mill has a very inelastic supply curve.
B) the mill is a natural monopoly.
C) the mill controls a key input.
D) the government will declare it a monopoly.
C
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What is the effect of the high (15.3%) U.S. tariff on garments imported from Bangladesh on the Bangladesh economy?
a. It has no effect on the Bangladesh economy, since U.S. consumers ultimately pay the tariff. b. It acts as a hidden tax of $4.61 on Bangladeshi citizens. c. It improves Bangladesh's terms of trade with the United States. d. It has a very small effect on the Bangladeshi economy, since only 10% of its exports to the United States are subject to the tariff.
Those who will unambiguously gain from free trade are ________ factors in sectors that produce goods that are ________
A) immobile; exported B) immobile; also imported C) mobile; also imported D) mobile; exported E) mobile; untraded