For a perfectly competitive firm, at profit maximization
A) market price exceeds marginal cost.
B) total revenue is maximized.
C) marginal revenue equals marginal cost.
D) production must occur where average cost is minimized.
Answer: C
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Both France and the United Kingdom successfully used exchange-rate targeting to lower inflation in the late 1980s and early 1990s by tying the value of their currencies to the
A) U.S. dollar. B) German mark. C) Swiss franc. D) Euro.
Which of the following is not an example of signaling?
a. screening b. advertising c. getting an education d. gift giving
Referring to Figure 18.2, U.S. goods will become cheaper in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar.
A. 12; 11 B. 12; 13 C. 11; 13 D. 10; 14
Russia, Australia, and France have adopted policies to encourage higher birthrates by:
A. Decreasing benefits for single workers B. Penalizing firms with long work hours C. Mandating longer holidays and vacations D. Offering monetary awards for having a child