When the market value of the dollar falls relative to other currencies around the world, we say that
A) the supply of dollars has decreased. B) the dollar has depreciated.
C) the demand for dollars has decreased. D) the dollar has appreciated.
B
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Hewlett-Packard will not raise the prices of its personal computers without first considering how Dell might respond. This is evidence of
A) collusion. B) cutthroat competition. C) price fixing. D) interdependence.
Exhibit 7-14 Cost curves
In Exhibit 7-14, the U-shaped LRAC curve indicates which of the following as quantity increases from 0 to 4,000?
A. Diseconomies of scale; constant returns to scale; economies of scale. B. Constant returns to scale; economies of scale; diseconomies of scale. C. Economies of scale; constant returns to scale; diseconomies of scale. D. Economies of scale; diseconomies of scale; constant returns to scale.