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.
Answer: B
Economics
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If the average cost of flying the next flight is zero and one passenger is on the plane and has paid $50, should the next flight be flown?
A) Yes. B) No. C) Can't tell from the data provided. D) The plane should wait for at least one more passenger.
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Monopolistic competition is characterized by
A) ease of entry. B) many sellers. C) product differentiation. D) all of these choices characterize this market.
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