Which of the following was NOT part of Korean industrial policies?
A) An aggressive promotion of exports along with high levels of protection
B) Directed credit and tax breaks given to targeted industries
C) Subsidies given to some targeted firms
D) Bailing out bankrupt firms without any attempt to dispose distressed firms
E) Allowing exporting firms to borrow funds at below-market interest rates
D
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A high four-firm concentration ratio implies
A) an absence of product differentiation. B) a presence of product differentiation. C) an absence of competition. D) a presence of competition.
A 10-cent-per-box tax on producers of cigars will
a. shift the firm's ATC and MC curves upward by the full amount of the tax. b. induce the firm to produce less but will not shift the firm's MC curve. c. shift the firm's ATC and MC curves downward by the full amount of the tax. d. shift the MC curve upward but will not cause any shift in the ATC curve.