Refer to Figure 9-5. The loss in domestic consumer surplus as a result of the tariff is equal to

A fair-returns price is a price set at:

A) marginal cost. B) average fixed cost. C) average total cost. D) average variable cost.

An example of foreign direct investment is the

A) domestic acquisition of less than 10 percent of a foreign company. B) foreign purchase of more than 10 percent of stock in a domestic company. C) purchase of livestock from abroad. D) sale of insurance in a foreign nation.