Suppose a men's suit produced in Moldavia sells for 250 euros. If the exchange rate between euros and dollars is €1 = $1.38, how much will an American pay for the suit?
A. $250.00.
B. $345.00.
C. $181.16.
D. $138.00.
Answer: B
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The production possibilities frontier is a boundary that separates
A) fair combinations of goods and services that can be consumed from unfair ones. B) the combinations of goods that can be produced from the combinations of services. C) attainable combinations of goods and services that can be produced from unattainable ones. D) affordable production points from unaffordable points. E) equitable combinations of goods and services that can be produced from inequitable ones.
If the government grants a firm a public franchise to supply coal, a monopoly is created by
A) a natural barrier to entry. B) a legal barrier to entry. C) price discrimination. D) All of the above answers are correct.
Studies of mutual fund performance indicate that mutual funds that outperformed the market in one time period usually
A) beat the market in the next time period. B) beat the market in the next two subsequent time periods. C) beat the market in the next three subsequent time periods. D) do not beat the market in the next time period.
Which of the following is true for a profit-maximizing competitive firm in the long run but not a monopolist?
A. MC = MR. B. MC = P. C. AR = P. D. Q > 0.