Refer to Figure 13-1. The marginal revenue from the increase in price from P0 to P1 equals
A) the area (A - D). B) the area (B + D - A).
C) the area (C - B). D) the area A.
A
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During 2011, the price level in the U.S. rose at a faster rate than the price level in Japan. Other things the same, according to purchasing-power parity, this difference in inflation rates should have caused
a. the nominal exchange rate of the dollar to appreciate relative to the yen. b. the real exchange rate of the dollar to appreciate relative to the yen. c. the nominal exchange rate of the dollar to depreciate relative to the yen. d. the real exchange rate of the dollar to depreciate relative to the yen.
Refer to the graph shown. The profit-maximizing monopolist would be:
A. making zero economic profits. B. earning accounting but not economic profits. C. making economic profits. D. sustaining a loss.
The following is cost information for the Creamy Crisp Donut Company: Entrepreneur's potential earnings as a salaried worker = $50,000 Annual lease on building = $22,000 Annual revenue from operations = $380,000 Payments to workers = $120,000
Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Refer to the data. If, other things equal, Creamy Crisp's revenue fell to $286,000: A. its implicit costs, including a normal profit, would exceed its explicit costs. B. it would earn a normal profit but not an economic profit. C. it would suffer an economic loss. D. its accounting profit would fall to zero.
An increase in the number of job quits would suggest that it is becoming
What will be an ideal response?