<span>Minimizing the risk is the most important principle in the television business. So True.
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Answer:
The effective rate of protection for the U.S. steel industry is approximately 17.5%
Explanation:
Mathematically, the effective rate of protection is calculated as follows;
e = (n-ab)/(1-a)
where n is the nominal tariff rate on the final product , a is the ratio of the value of the imported input to the value of the finished product and b is the nominal tariff rate on the imported input
Mathematically;
a = value of iron ore/value of steel = 100,00/500,000 = 1/5 = 0.2
From the question, we can see that nominal tariff rate for steel n = 15% = 15/100 = 0.15
The nominal rate for iron ore b = 5% = 5/100 = 0.05
So we substitute all of these into the equation of e above
e = {0.15-0.2(0.05)}/(1-0.2) = (0.15-0.01)/0.8 = 0.14/0.8 = 0.175 which is same as 17.5%
Answer:
If you can prevent a nonpaying consumer from having access to a good or service, that good is excludable. For example, only clients that buy a ticket can enter a movie theater and watch the movie.
A good or service that can be consumed by only one consumer (or a specific number of consumers) is rival in consumption because other people cannot consume them simultaneously. For example, once the movie theater sold out, no more people can get inside and watch the movie.
Answer:
<u>False.</u>
Explanation:
The correct answer is: When a consumer learns about a new product for the first time and makes a decision to try it, the consumer is engaged in the adoption process.
The adoption process can be defined as the stage of consumer behavior, which he decides to adopt / buy a product. This step occurs when the judgment of the characteristics of the product in question produces positive results for the consumer.
