One of the main sources of comparative advantage is internal economies
Indicate whether the statement is true or false
FALSE
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Explain how a single-price monopoly determines its output and price. Compare this process to how a perfectly competitive firm determines its output and price
What will be an ideal response?
The figure above represents the behavior of total revenue as price falls along a straight-line demand curve. Unit elasticity of demand occurs at
A) point g. B) point h. C) point i. D) point j.
Figure 7-6
Which of the lines in Figure 7-6 represents a typical average fixed cost curve?
a.
1
b.
2
c.
3
d.
4
When a country has monetary autonomy, it can:
A) conduct monetary policy independently of all other countries. B) conduct monetary policy only in coordination with all other countries. C) conduct monetary policy only in cooperation with its reserve currency country (the country to which it fixes its currency). D) print money without affecting inflation.