According to the price based definition dumping

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According to the price-based definition, dumping occurs whenever a foreign firm sells a product at a price below its home market price.According to the cost-based definition, dumping occurs when foreign merchandise is sold in the domestic market at more than fair value.Explanation:According to the price-based definition, dumping occurs whenever a foreign firm sells a product in the importing country’s market at a price below that for which the product is sold in the firm’s home market. According to the cost-based definition, dumping occurs when foreign merchandise is sold in the domestic market at “less than fair value” (that is, price is less than average total cost). See section: “Antidumping Regulations.”
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14. Study Questions #14. Ch 5.Complete the following statement to indicate why U.S. steel-using firms might lobby against the imposition of quotas on foreign steel sold in the United States.Quotasincrease input prices, therebycontributing to higher product prices andloss of competitiveness.Points:1 / 1Close Explanation

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