Objective costs and valid techniques based analysis

Reference no: EM1374991

Question1. When economists with different political views do cost or profit comparisons, they often reach different decisions. If their analysis is based on objective costs and valid techniques, why would not they reach similar decisions, even if those conclusions conflicted with their political beliefs? Explain.

Question2. Why do we say that competitive markets are efficient?

Question3. What are the six main methods used by governments to restrict trade?

Question4. List six reasons why countries impose trade restrictions.

Question5. What are the main reasons why economists typically oppose the use of trade restrictions?

Reference no: EM1374991

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