The lower the exchange rate, the cheaper are foreign-produced goods and services
Indicate whether the statement is true or false
FALSE
Economics
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The elasticity of supply does NOT depend on
A) resource substitution possibilities. B) the fraction of income spent on the product. C) the time elapsed since the price change. D) none of the above because all of the factors listed affect the elasticity of supply.
Economics
Refer to Figure 12-10. The firm's short-run supply curve is its
A) marginal cost curve. B) marginal cost curve from d and above. C) marginal cost curve from b and above. D) marginal cost curve from c and above.
Economics