If a nation exports a product, then the price of that product in the nation:

A. Will rise above the domestic (no-trade) equilibrium price
B. Will fall below the domestic (no-trade) equilibrium price
C. Will remain the same as the domestic (no-trade) equilibrium price
D. May either rise or fall, depending on the product

A. Will rise above the domestic (no-trade) equilibrium price

Economics

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The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, the equilibrium output will be

A) 2,000 tons. B) 3,000 tons. C) 4,000 tons. D) 5,000 tons.

Economics

Suppose that the world price of kiwi fruit ($10 per box) is below the domestic price ($12 per box). A tariff of $1 per box would:

a. cause foreign producers to be better off, because the price they charge is now higher by $1 per box. b. cause domestic producers to be worse off by $5 per box. c. allow domestic consumers to enjoy kiwi fruit for $5 more per box than the free trade price, but still $2 less than the domestic price. d. allow domestic consumers to enjoy kiwi fruit for $1 more per box than the free trade price, but still $1 less than the domestic price. e. cause domestic producers to be worse off by $10 per box.

Economics