Author Question: If the export supply curve and the import demand curve of tomatoes of Luxembourg intersect at the ... (Read 92 times)

a0266361136 · **on:** Jun 30, 2018

If the export supply curve and the import demand curve of tomatoes of Luxembourg intersect at the international price level of tomatoes, then Luxembourg will suspend trading tomatoes in the international market.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following faces a horizontal demand curve?
a. A monopolistic firm
b. An oligopolistic firm
c. A perfectly competitive firm
d. A monopolistically competitive firm
e. A monopsonist firm