Compared to perfect competition, a monopolistically competitive market will produce ________ output and charge a ________ price
A) more; higher
B) more; lower
C) less; higher
D) less; lower
Answer: C
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It may be argued that theoretically, international capital movements
A) tend to hurt labor in donor countries. B) tend to hurt the donor countries. C) tend to hurt the recipient countries. D) tend to hurt labor in recipient countries. E) increase future production in donor countries.
In the long run, if a firm's total cost exceeds its total revenue at all output levels, it should
a. always exit the industry b. always continue operating c. increase the amount of its fixed inputs d. increase the proportion of its total cost that is fixed e. maximize the difference between its marginal revenue and its marginal cost
If the euro–pound exchange rate increased from €1.1 per pound in 2009 to €1.27 per pound in 2012, it implies a depreciation in the value of the pound from 2009 to 2012
a. True b. False Indicate whether the statement is true or false
The domestic demand and supply for sugar are Qd = 700 ? 2P and QSD = 100 + 4P. The foreign supply is QSF = 150 + 3P. Suppose an import quota of 100 is imposed in the domestic market. What will be the new market price of sugar?
A. 90 B. 100 C. 62.50 D. 110