In a fixed exchange rate system, rates are maintained by the central bank's ongoing purchases and sales of currencies
a. True
b. False
A
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As the price of good X increases, the budget line
a. makes a parallel shift outward. b. makes a parallel shift inward. c. pivots inward. d. pivots outward.
Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Qd = 200 - 100P, where P is the per-minute price in dollars and Q is the number of wireless minutes. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.25 per minute and the largest fixed fee that it can, what is Always There's total profit?
A. $30,625 B. $39,375 C. $40,000 D. $35,000
Monopolistically competitive markets feature high barriers to entry
a. True b. False Indicate whether the statement is true or false
Services can be thought of as
A) unvalued goods. B) unwanted goods. C) free goods. D) intangible goods.