The figure above shows the demand curve, marginal revenue curve, and marginal cost curve
The amount of consumer surplus when the market has a monopoly producer is ________ and the amount of consumer surplus when the market is perfectly competitive is ________. A) abf; ace
B) abf; bcd
C) ace; bcd
D) ace; abf
E) bcd; ace
A
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Which of the following is NOT a step involved in optimization in levels?
A) Calculating the total net benefit of each alternative B) Choosing the alternative with the highest net benefit C) Calculating the marginal consequences of moving between alternatives D) Converting all costs and benefits into a common value of measurement
Suppose that the 12-month interest rates for the United States and the United Kingdom are 7% and 6% respectively, and E = 2.10 $/£. Given this information, what is the expected exchange rate change over the year?
A) 1% B) 4.2% C) 2.1% D) 2.0%