Other things the same, an increase in foreign prices raises the real exchange rate

The excess burden of an excise tax is

a. greater the more inelastic the supply curve. b. greater the more elastic the demand curve. c. smaller the more elastic the supply curve. d. greater the more inelastic the demand curve.

With perfect price discrimination the monopoly

a. eliminates all price discrimination by charging each customer the same price. b. charges each customer an amount equal to the monopolist's marginal cost of production. c. eliminates deadweight loss. d. eliminates profits and increases consumer surplus.