Use your basic knowledge and your understanding of market structures to answer this question. Which of the following companies most closely approximates a monopolistic competitor?

When a country's real exchange rate depreciates,

A) its nominal exchange rate must have appreciated. B) its nominal exchange rate must also have depreciated. C) it can trade its goods for fewer units of foreign goods. D) it can trade its goods for more units of foreign goods.

A learning curve may be expressed as a relationship between the labor per unit (L) and the cumulative number of units produced (N)

Which of the following learning curves exhibits a faster reduction in cost of production due to learning, (1 ) L = 10 + N-1 or (2 ) L = 10 + N-0.5? A) Learning curve (1 ) B) Learning curve (2 ) C) Curves (1 ) and (2 ) exhibit the same rate. D) We cannot determine the rate of cost reduction without knowing the value of N.