An Example of a Nontariff Trade Barrier Would Be

question 81

Multiple Choice

An example of a nontariff trade barrier would be

• A) a tax on an imported product.
• B) a tax on an exported product.
• C) a minimum restriction on the quantity of imports.
• D) a subsidy granted to import-competing producers.

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Definitions:

Average Total Cost

The total cost of production divided by the quantity produced, representing the average cost per unit.

Short Run

A period in economics where at least one factor of production is fixed and cannot be changed.

Purely Competitive

A market structure characterized by many sellers offering identical products with no single seller able to influence the market price.

Total Revenue

The total amount of money a firm receives from sales of its products or services before any expenses are subtracted.