A monopolistically competitive firm can increase its economic profit by ________
A) developing new products
B) producing at the efficient quantity
C) eliminating excess capacity
D) advertising less
A
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An increase in Swiss prices will cause
A) an increase in the demand for U.S. dollars and an increase in the exchange rate of Swiss francs per dollar. B) a decrease in the demand for U.S. dollars and a decrease in the exchange rate of Swiss francs per dollar. C) an increase in the supply of U.S. dollars and a decrease in the exchange rate of Swiss francs per dollar. D) a decrease in the supply of U.S. dollars and an increase in the exchange rate of Swiss francs per dollar.
Customs unions and free trade areas are identical in the manner in which member countries treat imports from nonmember countries
Indicate whether the statement is true or false
Keynes assumed that wages and prices were slow to adjust in order to explain
A) persistently high unemployment. B) high inflation. C) the high level of interest rates. D) why inflation fell in recessions.
Which of these statements best represents the law of demand?
a. When buyers' tastes for a good increase, they purchase more of the good. b. When income levels increase, buyers purchase more of most goods. c. When the price of a good decreases, buyers purchase more of the good. d. When buyers' demands for a good increase, the price of the good increases.