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A flexible exchange rate is also referred to as a(n):
A) open market exchange rate. B) liquid exchange rate. C) nominal exchange rate. D) floating exchange rate.
Consumer surplus can be used to compare the effects of any of the following except for different
a. market structures b. tax structures c. production technologies, such as capital-intensive versus labor-intensive d. public programs e. levels of medical care benefits
The demand for microwaves in a certain country is given by: D = 8,000 - 30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, and the government imposes a tariff of $30 per microwave, then the tariff revenue collected by the government will be ________.
A. $4,000 B. $60,000 C. $24,000 D. $40,000
A monopolist faces
A. a two-tiered demand curve. B. the market demand curve. C. a perfectly inelastic demand curve. D. a perfectly elastic demand curve.