The cost of the resources used by domestic producer groups including the lobbying fees, propaganda, and legal restrictions, is collectively referred to as the cost of:

In the long run, a monopolistically competitive firm earns small economic profits

a. True b. False Indicate whether the statement is true or false

The effect of a tariff or a quota is to

a. raise the price of a commodity in the exporting country above the price in an importing country. b. raise the price of a commodity in an importing country above the price in the exporting country. c. lower the price of the commodity in all countries. d. raise the price of the commodity in all countries.