When a country imposes a tariff to protect a domestic monopolist from international competition, it will produce _______ output and charge _______ in a perfectly competitive domestic industry.
a. more; a higher price than
b. the same; the same price as
c. less; a higher price than
d. less; a lower price than
Answer: b. the same; the same price as
Economics
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If net exports are negative
A) net foreign investment is positive. B) capital inflows must be less than capital outflows. C) net foreign investment is also negative. D) Both A and B are correct.
Economics
If a college enforces a new policy where anyone caught cheating is immediately expelled, the basic postulate of economics suggests that
a. cheating will be completely eliminated. b. fewer students will attempt to cheat. c. the amount of cheating will be unaffected. d. any of the above is possible because student behavior is unpredictable.
Economics