In the context of international dumping, which of the following statements about the price- or cost-based definitions of foreign market value are correct? Check all that apply A. Governments often reward foreign companies that dump commodities in the home economy at a price that is less than average total costs. B. According to the cost-based definition, dumping occurs when foreign merchandise is sold in the domestic market at less than fair value. C. According to the cost-based definition, dumping occurs when foreign merchandise is sold in the domestic market at more than fair value. D. According to the priced-based definition, dumping occurs whenever a foreign firm sells a product at a price above its home market pric

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Imperfect Competition

Imperfect competition is relatively easier to understand once people have the knowledge of perfect competition. When the five conditions of perfect competition are not made, that market structure is said to be imperfect competition.