Everything else held constant, if a factor decreases the demand for ________ goods relative to ________ goods, the domestic currency will depreciate
A) foreign; domestic
B) foreign; foreign
C) domestic; domestic
D) domestic; foreign
D
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Diseconomies of scale:
a. occur only in the short run. b. occur when at least one resource is fixed and unit costs decrease as the quantity of production increases. c. occur when at least one resource is fixed and unit costs increase as the quantity of production increases. d. are represented by the upward-sloping portion of the short run average total cost curve. e. occur when all resources are variable and unit costs increase as the quantity of production increases.
Savings bonds differ from most other bonds in that-
What will be an ideal response?
Table 24.1Monopoly Costs and RevenueQuantityPriceTotal Cost1$500$4002$450$6503$400$9504$350$1,3005$300$1,700In Table 24.1, according to the profit maximization rule, at the profit-maximizing level of output, the average total cost is
A. $316.67. B. $340. C. $325. D. $400.
When elasticity is 0.1, demand is
A. elastic. B. inelastic. C. unit elastic. D. undefined.