Given the production function and total cost function shown in Chapter 4, as production increases, average fixed costs

If a perfectly competitive market becomes a monopoly and the costs do not change, which of the following allocations of costs and benefits applies?

A) The producer benefits, but consumers and society are harmed. B) The producer and society are harmed, but consumers benefit. C) The producer and society benefit, but consumers are harmed. D) The producer is harmed, but consumers and society benefit.

Which of the following changes in the exchange rate represents an appreciation of the dollar?

a. 100 yen = $1 to 90 yen = $1 b. 1 yen = $.10 to 1 yen = $.08 c. 1 peso = $10 to 1 peso = $11 d. 200 francs = $10 to 190 francs = $10