If an Industry Is Imperfectly Competitive,and Markets Are Segmented Then

question 35

Multiple Choice

If an industry is imperfectly competitive,and markets are segmented then

• A) a firm may find that it is profitable to engage in dumping.
• B) a firm may find that international trade is unprofitable.
• C) a firm may find that it should promote scale economies.
• D) a firm may find that it has lost its comparative advantage.
• E) a firm may find that it should become more specialized.

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision.

Self-Control Problem

The difficulty individuals face in resisting short-term temptations to meet long-term goals.

Behavioral Economists

Experts who analyze the influence of psychological, cognitive, emotional, cultural, and social factors on the economic choices of persons and entities.

Self-Interest

That which each firm, property owner, worker, and consumer believes is best for itself and seeks to obtain.