If foreign exchange rates are determined by the interaction of supply and demand forces for the various currencies, then the exchange rate is

Refer to the figure above. If the optimal number of machines rented is 100, the market rental price must be:

A) $3 per month. B) $4 per month. C) $5 per month. D) $7 per month.

"Cheap talk" is considered cheap because

A) communications via phone or email these days has a cost that is close to zero. B) a firm can say anything, but may actually do something different. C) the cost of talking is far outweighed by the gains to be made in coordinating efforts. D) firms avoid the costs of hiring lawyers.