According to the above figure, equilibrium is at point

The marginal revenue curve for a perfectly competitive firm is

A) an upward sloping curve. B) a downward sloping curve. C) a horizontal line. D) None of the above answers is correct.

Answer the following statement(s) true (T) or false (F)

1. When the effective U.S. dollar price of a foreign good rises, then a lower quantity of that good will be demanded in the United States. 2. When the euro develops a higher value compared to the U.S. dollar, then the U.S. dollar has a higher relative value compared to the euro. 3. The supply of foreign currency available to the United States is provided by foreigners who want to buy U.S. goods and services or invest in the United States. 4. A country that sends large capital outflows to the United States is basically sending its savings to the United States. 5. The equilibrium exchange rate of a currency changes many times daily.