If Japan Does NOT Have a Comparative Advantage in Producing

question 127

Multiple Choice

If Japan does NOT have a comparative advantage in producing rice,what would be a consequence of Japan adopting a policy of reducing or eliminating imports of rice?

• A)The price of rice in Japan will fall.
• B)Japan will be able to consume a combination of rice and other goods beyond their domestic production possibilities curve.
• C)The real incomes of Japanese rice consumers would rise, but the real incomes of Japanese rice producers would fall.
• D)The real incomes of Japanese rice producers would rise, but the real incomes of Japanese rice consumers would fall.

Understand the concept of price discrimination and its types (first-degree, second-degree, third-degree).

Identify the conditions under which firms engage in different types of price discrimination.

Distinguish between the impacts of various forms of price discrimination on market efficiency.

Recognize how firms can capture consumer surplus through pricing strategies.

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