Imports are goods and services bought domestically and produced domestically. bu
ID: 1210727 • Letter: I
Question
Imports are goods and services bought domestically and produced domestically. but produced in other countries. and resold at a profit. and not subject to tariffs. It is difficult to determine if foreign companies are selling their products for prices below their costs of production because the true costs of production are difficult to calculate. the first have no legal obligation to reveal this information. costs are calculated in the firms/local currencies. domestic taxes increase the firms' costs but it is difficult to determine the incidence of these taxes. An explicit cost is defined as a cost that does not change as output changes. a nonmonetary opportunity cost. a cost that involves opportunity cost. a cost that involves spending money. a nonmonetary accounting cost. When a firm products more output using the same inputs o the same output using fewer inputs we say that the firm experiences an increase in demand. experiences positive technological chanExplanation / Answer
25.
answer : but produced in other countries
as imports means things traded in from foreign countries