Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. If the market price is 2 cents per page, what is Fast Copy's profit maximizing level of output?

The permanent-income hypothesis seeks primarily to explain the

A) observed long-term constancy of the saving ratio. B) observed variation in the short-term saving ratio. C) unimportance of transitory income changes. D) All of the above are correct.

If the Mexican peso (MXN) to Brazilian real (BRL) exchange rate goes from 5.9 MXN/BRL to 5.2 MXN/BRL

A) Brazilians decrease their demand for Mexican goods. B) Brazilians increase their demand for Mexican goods. C) Mexicans decrease their demand for Brazilian goods. D) Not enough information to determine what happens.