Multiple Choice
Suppose foreign shrimp prices drop by 32 percent and importers gain a 90 percent market share. From this information, what would economists strongly suspect about this industry?
A) Foreigners have a comparative advantage in shrimping.
B) Americans have a comparative advantage in shrimping.
C) Foreign sellers probably are colluding on price to maximize profits.
D) The large sales of foreigners indicate that they are better strategic bargainers than Americans are.
Correct Answer:
Verified
Correct Answer:
Verified
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