Strategic dependence is found in
A) monopoly markets.
B) oligopolistic markets.
C) monopolistic competitive markets.
D) perfect competitive markets.
Answer: B
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The figure above shows short-run cost curves for a perfectly competitive firm. If the price of the product is $8 and the firm does not shut down, the firm's output in the short run
A) will be 0. B) will be between 0 and 10. C) will be 10 or higher. D) cannot be determined without more information.
What happens if the Brazilian real appreciates relative to the U.S. dollar?
A) Brazilians will buy fewer U.S. goods, which generates an increase in the quantity supplied of dollars. B) The quantity demanded of reals increases as U.S. residents want to buy more Brazilian products. C) The quantity of reals supplied increases because the lower price (in reals) for U.S. goods induces Brazilians to buy more U.S. products. D) The U.S. Federal Reserve Bank increases the supply of dollars to the world economy.