What price should a firm charge for a package of two shirts given a marginal cost of $2 and an inverse demand function P = 6 ? 2Q by the representative consumer?

A. $6
B. $8
C. $10
D. $2

Answer: B

Economics

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A restriction of imports that is accomplished by a quota normally

A. can be accomplished also by a tariff. B. cannot be replicated exactly by imposing a tariff. C. can be accomplished also by an export subsidy. D. can be accomplished also by negotiations within GATT.

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