Economists are particularly adept at understanding that people respond to

In the above figure, what is the price the firm receives if the output is 8?

A) $10 B) $2 C) $7 D) $8

Every transaction concerning the importation of goods into the United States constitutes a

A) supply of foreign currency with no effect on the market for the dollar. B) demand for dollars with no effect on markets for foreign currencies. C) supply of foreign currencies and a demand for dollars. D) demand for foreign currencies and a supply of dollars.