An Export Good Is a Good Produced

question 176

Multiple Choice

An export good is a good produced

• A) in the United States and sold to foreigners living in the United States.
• B) by foreigners in the United States and purchased by U.S. households.
• C) in another country and purchased by U.S. residents.
• D) in the United States and sold in other countries.
• E) in another country and purchased by foreigners not residing in the United States.

---

Definitions:

Marginal Revenue Product

The increase in revenue generated from the use of one more unit of a factor of production.

Perfect Competitor

A theoretical market structure where many firms sell identical products, allowing no single firm to influence market prices.

Imperfect Competitor

A firm or entity in a market structure that does not meet the criteria of perfect competition, often having some control over price.

Output Price

The price at which goods or services produced by a company are sold in the market.