Author Question: For a perfectly competitive firm, curve A in the above figure is the firm's A) total fixed cost ... (Read 119 times)

KimWrice · **on:** Jun 29, 2018

For a perfectly competitive firm, curve A in the above figure is the firm's

A) total fixed cost curve.
B) average fixed cost curve.
C) average variable cost curve.
D) total revenue curve.

Question 2

When does the domestic government gain the MOST revenue?

A) when it imposes a tariff
B) when it imposes an import quota
C) when it negotiates a voluntary export restraint
D) The amount of revenue it gains is the same with a tariff and a voluntary export restraint.