Question 22 Which Of The Following Is A Potential Reason To Support International Trade Restrictions In The Event Of An 1 (128.73 KiB) Viewed 20 times
QUESTION 22 Which of the following is a potential reason to support international trade restrictions? In the event of an international conflict, it is important to know how to make boats, planes, chemicals, and so on. In a world with no restrictions on trade, high-polluting industries could move to countries with weaker regulatory systems and cause more environmental damage to the planet. Some industries (such as those aiming to produce clean energy or to cure serious diseases) need protection from competition while they complete necessary research and testing. All of the other answers are potentially correct.
QUESTION 25 The following figure shows the market demand curve for a patented drug (that is, the government grants exclusive rights to produce and sell the drug to one firm and one firm only). The figure shows the demand and marginal revenue curve (MR) of the firm. Assume the firm sells each unit for the same price (= no price discri mination). The marginal cost is constant at $3. / Price/Cost (s) 9 8 7 6 5 4 Demand 3 MR 2 1 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 Quantity (units) Refer to the figure above. What would the consumer surplus be if the market were competitive?
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