The ________ Imposed on Imported Bananas by European Union Countries

question 155

Multiple Choice

The ________ imposed on imported bananas by European Union countries cost consumers $2 billion a year in higher prices.

• A) boycotts
• B) quotas
• C) sanctions
• D) subsidies
• E) tariffs

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Definitions:

Earn More Profit

Refers to the increase in net revenue a company achieves through strategies such as cost reduction, price adjustment, or market expansion.

Elastic Demand

A condition in which the percentage change in quantity demanded of a product is greater than the percentage change in its price, indicating high sensitivity to price changes.

Senior Citizens

Individuals who are considered elderly, typically qualifying for certain benefits at a particular age, often 65 or older.

Profit-Maximizing

A strategy or behavior aimed at making the highest possible profit, where marginal costs equal marginal revenues.