Use the following graph to answer the next question.
All else held constant, a rightward shift of the demand curve would ________.
A. depreciate the dollar
B. depreciate the euro
C. reduce the equilibrium quantity of euros
D. appreciate the dollar
Answer: A
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If the cross elasticity of demand between Coke and Pepsi is 2.02, then Coke and Pepsi are
A) complements. B) substitutes. C) normal goods. D) inferior goods. E) Both answers B and C are correct.
If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?
A) Quantity demanded will fall by a relatively large amount. B) Quantity demanded will fall by a relatively small amount. C) Quantity demanded will rise in the short run, but fall in the long run. D) Quantity demanded will fall in the short run, but rise in the long run.
Hale's One Stop and Auto Service competes with Murray's Gas Mart. The local demand is: Qd = 25 - 10P ? P = 2.50 - 0.1 Qd. Both firms sell exactly the same quality of gasoline
Thus, if the firms charge a different price, the lower price firm will capture the entire market share. If the firms charge the same price, they will split the market share. The marginal cost functions are both constant at $1.25. If the firms compete by setting price, what is the market output level? What is the market price level?
If a tax is imposed on the buyers of a product, then the tax burden will fall entirely on the buyers
a. True b. False Indicate whether the statement is true or false