When a company is faced by a kinked demand curve, the marginal revenue curve
A) will be upward sloping.
B) will be horizontal.
C) will always be zero at the quantity produced.
D) will be discontinuous.
D
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A decrease in the value of a currency in terms of other currencies is known as
A) an appreciation. B) a depreciation. C) a par value. D) a gold point.
There are fewer farmers in the United States today than 200 years ago because of
a. improvements in farm technology. b. increased government regulations in farming. c. an elastic demand for food. d. environmental programs designed to reduce soil erosion.
In 1997, there was a speculative attack on the Thai baht. This resulted from the:
A. belief by speculators that the Thai central bank didn't have sufficient U.S. dollar reserves to maintain the current fixed rate. B. revelation that the Thai central bank had converted its gold reserves into foreign exchange. C. belief by speculators that the Thai central bank had an oversupply of U.S. dollar reserves. D. overthrow of the Thai president and the central bank.
Producers try to sell goods that are ______.
a. worth more to them than to the purchaser b. worth an equal amount to them as the asking price c. worth less to them than the asking price d. worth more to them than the asking price