Author Question: Tariffs and import quotas both result in A) lower levels of domestic production. B) the domestic ... (Read 123 times)

cabate · **on:** Jun 29, 2018

Tariffs and import quotas both result in

A) lower levels of domestic production.
B) the domestic government gaining revenue.
C) lower levels of imports.
D) higher levels of domestic consumption.

Question 2

Perfect competition arises if the ________ efficient scale of a single producer is ________ relative to the demand for the good or service.

A) minimum; small
B) minimum; large
C) maximum; small
D) maximum; large