If the bank is selling euros for $0.89, then what is the implied euro price of the dollar?

If the supply curve illustrates the quantities producers plan to sell at given prices, and the demand curve illustrates the quantities consumers plan to buy at given prices, then the plans of producers and consumers are fully coordinated at the point

where A) the supply curve lies above the demand curve. B) the supply curve intersects the demand curve. C) the demand curve lies above the supply curve. D) the amount of a good needed by consumers exactly equals the amount supplied by producers.

Let MP = marginal product, P = output price, and W = wage, then the equation that represents a situation where a competitive firm should lay off some workers to maximize profits is

A) P × MP > W. B) P × MP < W. C) MP × W = P. D) P × MP = W.