The equilibrium output produced by a monopolistic competitor in the long run after the entry of new firms is ________
A) higher than the equilibrium output produced by the firm before the entry of new firms
B) lower than the equilibrium output produced by the firm before the entry of new firms
C) higher than the equilibrium output produced by a perfectly competitive firm in the long run
D) equal to the equilibrium output produced by the firm before the entry of new firms
B
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An exporter can hedge against the possible decline in a foreign currency by purchasing
A) put options on the currency. B) call options on the currency. C) the currency on the spot market. D) currency on forward contracts.
________: the quantity of two products the market is willing to purchase for a given level expenditure, and the prices of the two products
Fill in the blank(s) with correct word