Equilibrium price in international trade is the common price between exporting and importing countries.
Answer the following statement true (T) or false (F)
True
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Assume that the market demand for pens is given by QD = 650 - 25P and the market supply of pens is given by QS = 200 + 20P. If a firm sells 20 pens and faces an average total cost of $6, calculate the firm's profit
What will be an ideal response?
Refer to the above figure. If the MPC is unchanged and level of autonomous consumption increases, what occurs?
A) Line EBD will shift up. B) Line ABC will drop down. C) Line ABC shifts up. D) Line EBD rotates and becomes steeper.
Ceteris paribus, a decline in the general price level in the United States will make foreign-produced goods relatively more expensive to the U.S. residents and increase the aggregate demand of domestic goods
a. True b. False Indicate whether the statement is true or false
A physician's knowledge and skills are referred to by economists as
a. human capital b. labor c. physical capital d. entrepreneurship e. intellectual raw materials