It depends on which course you're studying. Different nomads had different reasons. I'm sorry I wasn't able to give you a better answer.
A feature of imperfect competition is <u>economies of scale</u>, which means that as the firm expands its production, average costs of production fall. Therefore, the firm can <u>decrease</u> its costs of production by selling internationally.
Answer:
A binding price floor is set above the equilibrium price as a minimum price
A binding price ceiling is set below the equilibrium price as a maximum price
Equilibrium price is $1.50
a) The government prohibits donut shops from selling donuts for more than $1.10 each = Price ceiling and it is Binding
b) The government has instituted a legal minimum price of $1.80 each for donuts = Price Floor and it is Binding
c) Due to new regulations donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so = Price ceiling and it is non-binding (as firms are wiling to offer higher wages than the minimum wage rate)
Explanation:
Answer:
If isolationism has become outdated, what kind of foreign policy does the United States follow? In the years after World War II, the United States was guided generally by containment — the policy of keeping communism from spreading beyond the countries already under its influence. The policy applied to a world divided by the Cold War, a struggle between the United States and the Soviet Union.
With the collapse of the Soviet Union in 1991, containment no longer made sense, so in the past ten years, the United States has been redefining its foreign policy. What are its responsibilities, if any, to the rest of the world, now that it has no incentive of luring them to the American "side" in the Cold War? Do the United States still need allies? What action should be taken, if any, when a "hot spot" erupts, causing misery to the people who live in the nations involved? The answers are not easy.
