If a marginal cost pricing rule is imposed on the firm in the figure above, the total surplus will be

The appreciation of the dollar will make U.S. goods ________ to foreigners and make imports ________ for U.S. residents

A) more expensive; cheaper B) cheaper; more expensive C) more expensive; more expensive D) cheaper; cheaper

A firm has an average total cost of $50. If it sells 20 units of its product at $80 each, what is its profit?

A) $30 B) $600 C) $1,000 D) $1,600