A(n) _____ Is a Flat Charge Per Physical Unit Imported

question 46

Multiple Choice

A(n) _____ is a flat charge per physical unit imported.

• A) ad valorem duty
• B) compound duty
• C) prohibitive duty
• D) alternative duty
• E) specific duty

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Definitions:

Marginal Cost

The extra cost incurred from producing one additional unit of a good or service.

Marginal Product

The additional output that results from a one-unit increase in the input of a production factor, holding all other inputs constant.

Marginal Revenue Product

the additional revenue generated from using one more unit of a factor of production.

Marginal Revenue Product

The extra income created from using another unit of an element like labor or capital.