The U.S. tariff on paper ____ the U.S. price of paper, _____ U.S. production of paper and _______the U.S. gains from trade
A. raises; increases; increases
B. doesn't change; increases; increases
C. doesn't change; doesn't change; decreases
D. raises; increases; decreases
D Figure 8.6 in the textbook illustrates these results.
Economics
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In the above table, the average propensity to save when disposable income is $5,000 is
A) -0.1. B) 0.1. C) 0.0. D) 0.2.
Economics
Use the following table to answer the next question. The table shows the total costs associated with varying levels of output produced by a perfectly competitive firm.OutputTotal Cost0$2,50012,70023,10033,70044,50056,000If the product sells for $1,200 a unit, the firm's profit-maximizing output is
A. 2. B. 3. C. 4. D. 5.
Economics