The rate at which two currencies trade for each other is called the
A. exchange rate.
B. price.
C. cost.
D. revenue.
A. exchange rate.
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As more of a good is consumed, its marginal utility ________ and its total utility ________
A) rises; rises B) rises; falls C) falls; rises D) falls; falls
The invention of genetically engineered corn that prevents yield loss due to corn rootworm will
A. shift the supply curve of US corn to the right. B. shift the supply curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the demand curve for US corn to the left.
Economics is a:
a. Managerial science b. Business science c. Social science d. Natural science
Market power is the ability of a firm to
A. Act as a price taker. B. Advertise. C. Increase the number of substitute goods. D. Control the price and quantity supplied.