The following are commonly-used arguments for protection against imports, except:
A. Self-sufficiency and diversification-for-stability
B. Protection against dumping
C. Infant industry protection
D. Price- and profit-maintenance
D. Price- and profit-maintenance
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Jennifer's Bakery Shop produces baked goods in a perfectly competitive market. If Jennifer decides to produce her 100th batch of cookies, the marginal cost is $120. She can sell this batch of cookies at a market price of $110
To maximize her profit, Jennifer should A) not produce this additional batch. B) produce this batch of cookies because they will help lower her average fixed cost. C) charge $120 for this batch. D) shut down. E) produce this batch of cookies because their MR exceeds their MC.
In a monopolistically competitive market if the additional revenue generated from advertising equals the additional cost of advertising, the firm should
A) advertise more to increase sales. B) advertise more to lower marginal costs. C) maintain its current amount of advertising. D) advertise less to decrease costs.