Innovations that generate profit for a firm's owners include developing
a. both c and d
b. all of the following
c. markets in new locations
d. new products
e. new production processes and distribution methods
B
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Explain the cost advantage of a firm operating at constant returns to scale
A speculative attack:
A. can occur with any currency. B. can occur to currencies with floating exchange rates. C. can occur to currencies with fixed exchange rates. D. are illegal and no longer occur.
If the firm facing the demand curve P = 10 - Q still has zero marginal costs and is now a perfect price discriminator instead of a single price monopolist, what will profits be if fixed costs are 12? 
A. 10 B. 13 C. 38 D. 12
Refer to the graph shown. The welfare cost of monopoly is given by:
A. area A. B. area B. C. areas A and B. D. areas C and D.