Assume a price floor is set above the equilibrium price. The result is a surplus

We can conclude that international trade is beneficial because, regardless of whether the country imports or exports a good, the overall increase in well-being outweighs the losses associated with trade

a. True b. False Indicate whether the statement is true or false

Use your basic knowledge and your understanding of market structures to answer this question. Which of the following companies most closely approximates a differentiated oligopolist in a highly concentrated industry?

A. Subway Sandwiches. B. Pittsburgh Plate Glass. C. Ford Motor Company. D. Kaiser Aluminum.