This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose that the marginal cost of an additional ton of steel produced by a Japanese firm is the same ... (Read 38 times)

mcmcdaniel

  • Hero Member
  • *****
  • Posts: 550
on: Jul 1, 2018
Suppose that the marginal cost of an additional ton of steel produced by a Japanese firm is the same whether the steel is set aside for domestic use or exported abroad.
 
  If the price elasticity of demand for steel is greater abroad than it is in Japan, which of the following will be correct? A) The Japanese firm will sell more steel abroad than they will sell in Japan.
  B) The Japanese firm will sell more steel in Japan than they will sell abroad.
  C) The Japanese firm will sell steel at a lower price abroad than they will charge domestic users.
  D) The Japanese firm will sell steel at a higher price abroad than they will charge domestic users.
  E) Insufficient information exists to determine whether the price or quantity will be higher or lower abroad.

Question 2

For which of the following market structures is it assumed that there are barriers to entry?
 
  A) Perfect competition
  B) Monopolistic competition
  C) Monopoly
  D) all of the above
  E) B and C only


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lauravaras

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


mcmcdaniel

  • Member
  • Posts: 550
Reply 2 on: Jul 1, 2018
:D TYSM

31809pancho

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Japanese Relocation from the West Coast, 1942–1945 Japanese Relocation from the West Coast, 1942–1945
Suzuki Harunobu, Two Courtesans, Inside and Outside the Display Window, Japanese. Suzuki Harunobu, Two Courtesans, Inside and Outside the Display Window, Japanese.
Cost of Copying for the Follower Country Cost of Copying for the Follower Country
How the cortical reaction in a mouse egg is thought to prevent additional sperm from entering the eg How the cortical reaction in a mouse egg is thought to prevent additional sperm from entering the eg
Uniparental disomy can be produced by several mechanisms involving nondisjunction in meiosis, nondis Uniparental disomy can be produced by several mechanisms involving nondisjunction in meiosis, nondis
Calico coat, produced by X inactivation in female cats Calico coat, produced by X inactivation in female cats
Video: Frequency of stimulation and force (Recruitment of motor units and force)

For a complete list of videos, visit our video library