When the U.S. dollar depreciates in relation to the Swiss franc:
a. a U.S. importer will need more dollars to pay for an invoice denominated in Swiss francs.
b. a Swiss exporter will receive more Swiss francs for an invoice denominated in the exporter's currency.
c. Swiss imports of U.S. goods will fall.
d. the Swiss franc is now worth less in terms of the U.S. dollar.
e. a U.S. exporter will receive fewer dollars for an invoice denominated in Swiss francs.
a
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Suppose a market has the demand function Qd=20-0.5P. At which of the following prices will total revenue be maximized?
a. $10 b. $20 c. $30 d. $40
Alexandra consumes only caviar and champagne, but she does have a limited income of $400. Her current consumption choice is 5 ounces of caviar, at a price of $50 per ounce, and 6 bottles of champagne, at $25 each. The last ounce of caviar added 100 units to Alexandra's total utility, while the last bottle of champagne added 75 units. If Alexandra chooses 4 ounces of caviar and 8 bottles of champagne instead her total utility will:
A. increase by 100 units B. decrease by 150 units C. increase by 50 units D. decrease by 100 units E. increase by 150 units