If 1 U.S. dollar exchanges for 0.65 euro, how much would it cost in U.S. dollars and cents to purchase a bottle of Italian wine priced at 40 euro?

Suppose that a slice of pepperoni pizza costs £1 in London and $2 in San Francisco. If the real exchange rate is one-third of a slice of U.S. pizza for one slice of British pizza, how many pounds should you receive in exchange for $1?

A) 1/3 B) 1.5 C) 2 D) 3

A firm's marginal cost curve

a. is always U-shaped. b. always has a positive slope. c. is always below its average cost curve. d. always intersects its average cost curve at its minimum point.