Which of the Following Is True of a Quota in a Competitive

question 69

Multiple Choice

Which of the following is true of a quota in a competitive market?

• A)A quota increases total surplus as the quantity produced and consumed in the domestic market increases.
• B)A quota is a trade policy used to promote greater efficiency in production within world markets.
• C)A quota reduces the welfare of domestic consumers more than it increases the welfare of producers.
• D)A quota is imposed in a competitive market to increase total world output of goods and services.

Grasp the principles of stochastic probability as it applies to individual movement behaviors within organizations.

Understand HR strategies for monitoring and controlling workforce dynamics such as absenteeism and turnover.

Identify HR supply and demand mismatches and comprehend strategies for addressing HR shortages and surpluses.

Understand various HR supply models and their applications in planning the movement of personnel within an organization.

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Definitions:

Marginal Cost

The cost added by producing one additional unit of a good or service, crucial for decision-making in business.

Advertising Revenue

Income that a company receives from advertisers for displaying or running their advertisements.

Cournot Model

An economic model used to describe an industry structure in which firms compete on the quantity of output they will produce, which they decide on at the same time.

Cournot Equilibrium

A situation in oligopoly markets where each firm chooses the quantity to produce to maximize its profit, assuming the quantities of its rivals are fixed.