« previous next »

Author Question: Import quotas ________ the price of imported goods and ________ the quantity consumed in the nation ... (Read 115 times)

jho37

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Import quotas ________ the price of imported goods and ________ the quantity consumed in the nation imposing the quota.
 
  A) raise; increase
  B) raise; decrease
  C) lower; increase
  D) lower; decrease

Question 2

The above table gives the demand schedule for Billy Bob's BBQ ribs. If the price of a pound of ribs falls from 3 per pound to 1 per pound, what is the change in Billy Bob's total revenue?
 
  A) 42
  B) 24
  C) -2
  D) -24


Zack0mack0101@yahoo.com

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

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?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

A Thirsty Nation A Thirsty Nation
The first commercially successful typewriter, manufactured in quantity beginning in 1874, surely fue The first commercially successful typewriter, manufactured in quantity beginning in 1874, surely fue
Percent of Selected Foods and Beverages Consumed in the United States Percent of Selected Foods and Beverages Consumed in the United States
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Red Imported Fire Ants Red Imported Fire Ants
Video: Energy Flow - Trophic Levels and Food

For a complete list of videos, visit our video library