According to the textbook, when claim they are using the cost-plus-markup formula, they
A) usually choose a 10 percent markup
B) usually choose a 50 percent markup
C) usually choose a 100 percent markup
D) might not be correctly describing their price-setting behavior.
D
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According to this Application, during the late 1980s, Argentina pegged its currency to the U.S. dollar. After 1995, the U.S. dollar appreciated sharply on world markets. Since the Argentinean peso was pegged to the U.S
dollar, the appreciation of the dollar essentially caused A) the peso to appreciate relative to the dollar, but depreciate on world markets. B) a sharp devaluation of the dollar relative to the peso. C) a severe revaluation of the peso relative to the dollar. D) the peso to also appreciate sharply on world markets.
Explain how economists use random experiments
What will be an ideal response?