21. A long-run equilibrium in an industry exists when cost per unit is at its lowest possible level. O. there is only one firm in the industry. O. the size of the market remains constant. O. price equals cost per unit. O. price equals marginal cost. 22. A tariff imposed on a country as a penalty for dumping goods is called a(n) O. antidumping duty. O. quota tariff. O. ad valorem tariff. O. revenue tariff. O. dumping duty.
21. A long-run equilibrium in an industry exists when cost per unit is at its lowest possible level. O. there is only one firm in the industry. O. the size of the market remains constant. O. price equals cost per unit. O. price equals marginal cost. 22. A tariff imposed on a country as a penalty for dumping goods is called a(n) O. antidumping duty. O. quota tariff. O. ad valorem tariff. O. revenue tariff. O. dumping duty.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 20P: May and Raj me the only two growers who provide organically grown corn to a local grocery store....
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21. A long-run equilibrium in an industry exists when cost per unit is at its lowest possible level.
O. there is only one firm in the industry.
O. the size of the market remains constant.
O. price equals cost per unit.
O. price equals marginal cost.
22. A tariff imposed on a country as a penalty for dumping goods is called a(n)
O. antidumping duty.
O. quota tariff.
O. ad valorem tariff.
O. revenue tariff.
O. dumping duty.
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