As the U.S. dollar appreciates in value, the price of goods in foreign currency increases resulting in
A) Loss of market share. B) The decline in prices.
C) The demand for U.S. goods to decline. D) All of the above.
Answer: D
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In the above figure, the long-run average cost curve exhibits diseconomies of scale
A) between 5 and 10 units per hour. B) between 10 and 20 units per hour. C) between 20 and 25 units per hour. D) along the entire curve.
Refer to Figure 15-8. Use the figure above to answer the following questions
a. Identify the curves labeled A and B. Identify the curve which contains both point Y and point Z. Identify the curve which contains both point V and point W. b. What is the profit-maximizing quantity and what price will the monopolist charge? c. What area represents total revenue at the profit-maximizing output level? d. What area represents total cost at the profit-maximizing output level? e. What area represents profit? f. What is the profit per unit (average profit) at the profit-maximizing output level? g. If this industry was organized as a perfectly competitive industry, what would be the profit-maximizing price and quantity? h. What area represents the deadweight loss as a result of a monopoly?
A disadvantage of having an annually balanced budget is that government spending would have to: a. allow the national debt to burgeon with chronic deficits
b. decline during a recession to offset the increase in tax revenues. c. rise during a recession to match the increase in tax revenues. d. rise during an expansion to offset the decline in tax revenues. e. decline in a recession to match the decrease in tax revenues.
When a patent expires, the firm holding the patent is able to maintain its monopoly control over the market.
Answer the following statement true (T) or false (F)