Critics of the extreme rational expectations theory argue that wages and input prices do not adjust instantaneously

Refer to Table 29-2. Given the following exchange rates in the above table, what are the exchange rates stated as U.S. dollars per Mexican peso and U.S. dollars per British pound respectively?

A) 0.10 dollars per peso and 2.00 dollars per pound B) 0.10 dollars per peso and 5.00 dollars per pound C) 1.00 dollars per peso and 20.00 dollars per pound D) 0.01 dollars per peso and 0.50 dollars per pound E) 0.01 dollars per peso and 0.20 dollars per pound

Price discounts to selected buyers with the intent of driving out smaller competitors is:

a. widespread in all industries. b. common in the retailing industry only. c. illegal under the Robinson-Patman Act. d. allowed if the four-firm concentration ratio is less than 50 percent. e. beneficial to consumers in the long run.