Nascent industries require adequate protection from foreign competition because:
a. they experience economies of scale.
b. they experience diseconomies of scale.
c. the quality of the products of such industries are comparatively inferior than the products of their foreign competitors.
d. they do not have adequate resources to undertake research and development.
e. their initial costs of production are considerably higher than the foreign firms.
e
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Suppose that the price of bread rises. This rise could be the result of
A) a decrease in the supply of bread. B) an increase in the supply of bread. C) a decrease in the demand for bread. D) Both answers A and C are correct. E) Both answers B and C are correct.
How is average variable cost calculated? If a firm has total variable costs of $19,200 when producing 575 units, what is the firm's average variable cost?
What will be an ideal response?