If a government imposes high enough tariffs, one result will be that
A) foreign producers will be able to sell more goods.
B) domestic producers will face no foreign competition.
C) consumers will benefit from lower prices.
D) markets will become more globalized.
Answer: B
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La Dila Corp . decided to sponsor an AIDS awareness campaign when it discovered that its rival had been sponsoring several fund-raising events for AIDS-afflicted children. This is an example of ________
A) bounded rationality B) pure altruism C) impure altruism D) consumerism
If a monopolist is producing the quantity at which price equals marginal cost, it should
A) continue to produce this amount if it wants to maximize profits. B) reduce output if it wants to maximize profits. C) reduce price and keep output unchanged if it wants to maximize profits. D) increase output if it wants to maximize profits.